does the american stock exchange still exist

Does the American Stock Exchange still exist? This article explains how the historic AMEX evolved into NYSE American, summarizes its timeline, key innovations, current role under ICE, and what the ...

2026-01-25 03:31:00

By Ravi Clark

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American Stock Exchange (AMEX) / NYSE American

Does the American Stock Exchange still exist? The short answer is: the American Stock Exchange no longer operates as an independent exchange under the AMEX brand; its business was acquired and folded into the New York Stock Exchange family and today operates as NYSE American within the Intercontinental Exchange group. This article traces the names, history, rebranding, current operations, and legacy of AMEX so readers — investors, issuers, and market observers — can understand how the curb market of the 19th century became a modern electronic venue.

Note: This article focuses on the finance and equities meaning of the term. If you searched "does the american stock exchange still exist" hoping for a direct, concise answer: yes — its functions continue today under the NYSE American banner, although the independent AMEX brand no longer exists.

Names and identity

Throughout its life the exchange used several names and brands, reflecting formalization, regulatory changes, and corporate transactions. Key identities and approximate timeline:

New York Curb Market (informal curb trading, 19th–early 20th century)
New York Curb Exchange / New York Curb (formalized, early 20th century)
New York Curb Exchange → New York Curb Exchange (official organization in 1920s)
American Stock Exchange (AMEX) — name adopted in 1953
NYSE Alternext U.S. / NYSE Amex Equities — post-acquisition transition names in the late 2000s
NYSE MKT LLC — intermediate corporate name in the 2010s
NYSE American — current operating name after rebranding under NYSE (mid-late 2010s)

These name changes mark the shift from curb-side trading to an organized marketplace and, ultimately, to integration into the NYSE/ICE corporate family.

History

The origin and evolution of AMEX tell a story of innovation, market access for smaller issuers, and periodic reform.

Origins — curb trading and the New York Curb Market Agency (pre-1920s)

The exchange’s roots reach back to informal curbside trading in lower Manhattan, where brokers conducted trades literally on the curb outside the more formal New York Stock Exchange. Curb brokers handled securities that were not listed on the NYSE — frequently smaller, regional, or emerging-company issues. The informal market organized over time; curbstone brokers developed conventions, and by the early 20th century the need for formal governance and standardized practices became clear. Around the first decade of the 1900s curb brokers organized associations that later evolved into a formal exchange governance structure.

Move indoors and formal organization (1920s–1950s)

In the 1920s the curb market moved indoors, creating a formal trading floor and establishing rules and membership structures. The newly organized entity took steps to register and regulate trading in the securities that had previously traded informally on the street. By mid-century the exchange had matured sufficiently to adopt a modern corporate identity, and in 1953 the New York Curb Exchange changed its name to the American Stock Exchange, signaling both legitimacy and a broader national ambition.

Mid-20th century developments and controversies

During the mid-20th century AMEX grew as a venue for smaller issuers and specialized securities. Like every major market, the exchange faced regulatory scrutiny and episodes that tested governance — including instances of market manipulation among certain listings that prompted reforms. Historical controversies led to improvements in listing standards, enforcement practices, and transparency measures to protect investors and improve market integrity.

Product innovations and market role (1970s–1990s)

AMEX played an outsized role in developing new products and structures in U.S. markets. Important contributions included:

Options trading and listed derivatives growth: AMEX established a competitive venue for listed options and became a recognized center for derivatives trading outside the NYSE and Chicago exchanges.
Early ETF adoption: In 1993, AMEX listed one of the earliest and most influential ETFs, which helped popularize the ETF structure among institutional and retail investors. This product innovation contributed to AMEX’s identity as a place for exchange-traded products.
Focus on small- and mid-cap issuers: AMEX specialized in listings for smaller companies, offering a path to capital markets for firms that did not meet NYSE listing thresholds.

These innovations helped AMEX remain relevant as market structure evolved.

Electronic trading and late 20th–early 21st century modernization

From the 1990s onward market structure changed rapidly as electronic trading and competing venues—particularly Nasdaq—grew. AMEX moved gradually toward electronic execution, automated order routing, and modern marketplace technology. The transition was challenging: AMEX had to preserve its market-making culture while adopting faster, more automated systems to compete for order flow, ETFs, and listed-options business.

Acquisition, consolidation and rebranding

As the exchange landscape consolidated in the 21st century, AMEX became part of a series of corporate transactions and rebranding efforts that ended its life as an independent brand.

Acquisition by NYSE Euronext (2008) and immediate aftermath

As industry consolidation accelerated, NYSE Euronext agreed to acquire the American Stock Exchange. As a result, AMEX’s operations were integrated into NYSE Euronext’s structure and governance. As of 2008, according to public corporate announcements, the transaction brought AMEX listings and trading systems under NYSE Euronext’s oversight and began a process of renaming and repositioning the venue.

NYSE Amex Equities, NYSE MKT LLC (2009–2012)

Following acquisition, the exchange was renamed and reorganized to align with NYSE branding. It was positioned as a market for small- and mid-cap equities, exchange-traded products, and specialized listings. Corporate filings and exchange rulebooks from this period show a progressive alignment of listing standards and market operations with NYSE group practices, while attempting to preserve a place for issuers who benefited from AMEX’s lighter-touch listing approach.

Rebranding to NYSE American and introduction of a speed bump (2016–2017)

In the mid-2010s the venue adopted the NYSE American brand. Around the same period the exchange introduced a sub-millisecond trading delay mechanism—commonly called a "speed bump"—designed to reduce the impact of ultra-low latency trading advantages and to protect certain order types from latency arbitrage. Public statements from the exchange and market-structure commentary in financial media discussed the speed bump as a way to balance speed and fairness for smaller, less liquid names.

Ownership under Intercontinental Exchange (ICE)

Intercontinental Exchange (ICE) acquired NYSE Euronext in 2013, placing NYSE American within the ICE corporate family. As of 2013, according to corporate filings and reporting, ICE became the ultimate parent company for NYSE lines of business. Today the exchange operates as part of the NYSE Group under ICE’s ownership and corporate governance.

Current status and operations

If your question is "does the american stock exchange still exist" in a present-day operational sense, the exchange’s activity continues under the NYSE American brand. NYSE American functions as a legitimate, regulated venue within the U.S. equities ecosystem.

Market role and listed products

Today the exchange lists and trades a range of securities, including:

Common equities, with emphasis on small- and mid-cap issuers
Exchange-traded funds (ETFs) and exchange-traded products
Listed options and other derivatives tied to underlying securities
Structured products and certain fixed-income instruments

NYSE American’s niche remains access for smaller companies and for issuers that value specialized market rules or product structures. The exchange provides listing and trading for ETFs and ETPs that cater to both institutional and retail investors.

Market structure and participants

NYSE American operates as an electronic exchange with designated liquidity providers and market participants. Market structure features include:

Designated market makers (DMMs) or equivalents historically responsible for quoting and providing liquidity in assigned securities.
Liquidity providers and order-routing relationships with broker-dealers and trading firms.
Fully electronic order matching engines consistent with NYSE technology standards.

These participants ensure continuous trading and price discovery for listed names, particularly in less liquid small- and mid-cap securities.

Technology and trading rules (including speed bump)

The NYSE group consolidated several technology platforms under initiatives such as Pillar gateway architecture (a multi-venue engineering approach). NYSE American implemented a controlled delay—often discussed as a 350-microsecond speed bump on certain order types—meant to blunt predatory low-latency strategies and level the competitive field for market participants dealing in smaller securities. Public filings and exchange rule changes describe the mechanism and its intended effects on order handling and price improvement opportunities.

Trading hours and operational details

NYSE American follows standard U.S. equities market sessions:

Pre-market / pre-open activity (order entry and auctions) before the core session
Core trading session in U.S. equities hours (regular trading)
Post-close auctions and limited post-market activity

Specific opening and closing auction procedures mirror those of other NYSE venues with a focus on orderly price discovery and closing price determination.

Notable milestones and contributions

AMEX’s legacy includes several innovations that shaped modern markets:

Early support for listed options trading and an organized options marketplace outside the NYSE’s core business.
Pioneering role in ETF adoption — AMEX listing of early ETFs helped the product class gain traction among investors.
A long history of providing capital-market access to smaller and regional issuers, helping broaden the U.S. equity capital base.

These milestones demonstrate that AMEX contributed materially to product diversity and issuer access in U.S. markets.

Controversies and criticisms

Like other major exchanges, AMEX experienced controversies that prompted reforms:

Governance and manipulation scandals in the 20th century led to tightened listing standards and enforcement.
Critics of market consolidation argue that absorption into larger exchange groups concentrates market power and may reduce competition among trading venues.
Market-structure debates persist around latency, high-frequency trading, and fairness—issues directly implicated by the adoption of measures like the speed bump.

These debates are ongoing in industry forums, regulatory rulemaking, and academic research.

Cultural and physical legacy

American Stock Exchange Building and landmark status

The historic AMEX building in lower Manhattan is a physical reminder of the exchange’s curb origins and later institutional presence. The building’s architecture and its location in the Financial District contribute to the cultural memory of the exchange as a center for American capital formation.

Brand recognition and legacy of the AMEX name

Although the AMEX brand no longer operates as an independent exchange, the name persists in financial history, academic literature, and public memory. Financial professionals and historians often invoke AMEX when discussing small-cap markets, early ETF history, and the evolution from curb trading to modern venues.

Impact on investors and issuers

When AMEX merged into NYSE structures and later rebranded as NYSE American, practical effects included:

Updated listing rules and compliance standards for companies transitioning to the NYSE family.
Continued access for small- and mid-cap issuers to a regulated listing venue tailored to their size and needs.
For investors, trading in former AMEX-listed securities continued under the new marketplace, with modern execution and auction mechanisms aimed at preserving liquidity and price discovery.

Regulatory filings and post-acquisition disclosures emphasized continuity of trading capability while aligning governance and disclosure practices with NYSE group norms.

Timeline of major events (chronological)

19th century — Informal curbside trading outside NYSE; brokers trade unlisted securities on the street.
Early 1900s — Curb brokers organize into formal associations, leading to structured markets.
1920s — Move indoors; formal structure and governance as the New York Curb Exchange take shape.
1953 — Official renaming to the American Stock Exchange (AMEX).
1970s–1990s — AMEX pioneers product innovations including expanded options trading and ETF listings.
1993 — AMEX lists one of the earliest major ETFs, helping popularize exchange-traded funds.
2008 — AMEX is acquired by NYSE Euronext and reorganized under NYSE branding (public corporate announcements in 2008 reported this transaction).
Early 2010s — Further name and corporate structure adjustments (NYSE Amex Equities → NYSE MKT LLC).
2013 — Intercontinental Exchange (ICE) acquires NYSE Euronext; NYSE American becomes part of ICE’s NYSE Group.
Mid-late 2010s — Exchange rebrands as NYSE American and implements market-structure features such as a microsecond "speed bump."

References

NYSE Group historical materials and exchange rule filings (corporate announcements and rulebooks).
Investopedia, "History of the American Stock Exchange" and related market-structure articles.
Wikipedia, "NYSE American" / "American Stock Exchange" entries (for timeline and naming conventions).
Corporate filings and press releases describing acquisitions and rebranding (NYSE Euronext announcements, ICE acquisition documents).
Industry analyses from regulatory filings explaining speed bump mechanics and market-structure impacts.

As of 2008, according to corporate reports, the American Stock Exchange’s acquisition by NYSE Euronext began the formal integration process into the NYSE family. As of 2013, according to ICE filings and press reports, ICE’s acquisition of NYSE Euronext placed NYSE American under ICE ownership. As of 2017, according to NYSE public communications, the venue operated under the NYSE American brand and implemented microsecond delay features intended to mitigate latency-based trading advantages.

External links

Official NYSE American information pages and exchange rulebook (referenced in corporate materials and public filings).
Historical archives describing the curb market origins and the architecture of the AMEX building.

Frequently asked question (FAQ)

Q: does the american stock exchange still exist?

A: Yes and no. If you mean the independent AMEX brand and company that once operated autonomously, that entity no longer exists; it was acquired and absorbed. If you mean "is there a market operating in the same space and under the same regulatory authority?" — yes: the activities continue today under the NYSE American brand within the NYSE/ICE family. The functional marketplace that handled small-cap listings, ETFs and options continues to operate.

Q: When did AMEX become NYSE American?

A: The transition began after the 2008 acquisition by NYSE Euronext and continued through corporate reorganizations in the 2010s. Public communications and filings show the NYSE American branding and structural changes were in place by the mid-late 2010s.

Q: What does the change mean for a company listed on AMEX?

A: Listed companies experienced updated compliance and reporting obligations consistent with NYSE group standards, while generally retaining market access. The marketplace for their securities continued with modern electronic execution and order-handling rules.

Next steps — explore more

If you want to examine current listings or compare how NYSE American’s listing standards differ from other venues, check official exchange materials and listing guides. To learn about trading tools and custody solutions relevant to modern listed products such as ETFs or options, consider exploring Bitget’s platform features and wallet solutions for institutional and retail needs.

Explore more Bitget resources to see how modern trading platforms integrate exchange data, advanced order types, and custody options that support trading and portfolio management.

Disclosure: This article is informational and historical in nature. It does not constitute investment advice. Sources cited include exchange communications and public industry materials available as of the dates referenced in the article.

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