American Stock Exchange

American Stock Exchange - The American stock exchange, also known as AMEX, is the second largest stock exchange in the United States. The only one that is bigger is the New York Stock Exchange, also known as the NYSE. The American stock exchange rules are more lenient than the NYSE; therefore, the AMEX has a broader presentation of stocks and bonds issued by smaller companies, but some index options, and interest rate option trading also take place on the AMEX. Originally, the AMEX opened as an alternate to the NYSE. In 1998, the NASDAQ's parent company purchased the AMEX and the markets were combined, although they operate separately.