AMEX Commodity Exchange

The AMEX commodity exchange is well known for options trading and occupies the second position after CBOT. The commodity exchange had to encounter several challenges before it could actually strengthen its stance in the futures trading market.
It was subjected to many allegations for misappropriations due to which traders shifted base to other exchanges.

Evolution of AMEX Commodity Exchange:
The AMEX Commodity Exchange was formerly organized under the name of New York Curb Agency. During that period, usually “hand signals” were used by traders. In the year 1953, the name AMEX was embraced.

It ranks second among the markets, which are floor based in the United States of America. However, AMEX commodity exchange ranks second after New York Stock Exchange or NYSE as far as securities value and trade volume are concerned.
Trading issues for the first time:
There were certain alterations in the Constitution in the year 1976, which enabled the exchange to trade qualified issue. In addition to AMEX, the other exchanges were also allowed to do so.
The ITS or Inter market Trading System commenced in the year 1978. Earlier the “hand signals” used by the traders was stopped in the year 1996 and the computerized system came into being. This brought an end to the hand signals, which were used for 100 years.
A mild drop:
AMEX commodity exchange registered a gradual but consistent drop pertaining to listing of companies and also the volume of trade. It was found that towards 1997 end, as many as 5400 companies had listings on the NASDAQ or National Association Of Securities Dealers Automated Quotations. This was in sharp contrast to 771 company listings on the AMEX.
Merger with NASDAQ:
In the year 1998, there was a merger between American Stock Exchange and NASDAQ and the name that was christened was Nasdaq-Amex Market Group.
Making a mark in commodity trading market:
Nevertheless, AMEX commodity exchange occupies the second position after CBOT or Chicago Board Options Exchange in the futures trading market.
Acquisition by NYSE Euronext:
As of January, 2008, it was declared by NYSE Euronext that it was contemplating acquisition of American Stock Exchange. The acquisition would be for a whopping USD$260 million(in stocks).
Products traded on AMEX commodity exchange:
Formerly, AMEX was involved in trading stocks, not that it no longer does, but medium sized or small sized stocks are traded currently. Over the years, it has strengthened its business in options. Some of the well known products traded by AMEX commodity exchange include: * Powershares * Exchange traded funds or ETFs. * SPDR or Standard & Poor’s depository receipts. AMEX also has the credit of producing “stock market indices”. Intellidexes comprises set of indices.

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Last Updated on : 27th June 2013

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