![]() |
|
|||
|---|---|---|---|---|
|
|
||||
|
NYSE EURONEXT COMPLETES AMEX ACQUISITION
Posted October 1, 2008
NEW YORK – NYSE Euronext has completed its $260 million acquisition of
the American Stock Exchange, making it the third-largest US options
marketplace and its share of trading in exchange-traded funds, cash
equities, closed-end funds and structured products.
“This combination, beneficial to our customers and shareholders, further
improves our competitive position in US options, ETFs and cash equities,
and enables us to realize significant operational efficiencies and new
business opportunities,” says Duncan L. Niederauer, Chief Executive
Officer of NYSE Euronext. “Amex customers will have more products and
services available to them and the advantage of leading-edge
technology.”
NYSE Arca has about $317.5 billion in ETF and ETN assets under
management in the US. By adding Amex’s 416 ETF and 13 ETN listings, NYSE
Euronext’s position grows to more than 680 ETFs and 90 ETNs. NYSE
Euronext expands its portfolio of closed-end funds and structured
products with approximately 420 Amex listings joining the more than
1,000 issues already listed on the on the company’s US markets. Also,
more than 500 Amex-listed companies are joining NYSE Euronext, bringing
NYSE Euronext’s total to about 4,600 listed issuers and 6,500 listed
issues.
Following the acquisition, NYSE Euronext plans to retire Amex systems by December and transition the functions performed on those systems to its own equities trading platform. NYSE will also move Amex’s options trading floor operations to the NYSE options trading floor in the first quarter of 2009, transitioning from Amex to NYSE Euronext technology for options trading.
|
||||
Questions or comments? Get in touch with us at info@globalinv.com
© 2005-2009 Investment Media Inc.