NYSE invites AMEX indoors
TEXT OF STORY
Doug Krizner: The New York Exchange and the American Stock Exchange are getting married. NYSE Euronext is buying the AMEX for $260 million in stock.
There’d been a lot of speculation about this deal happening. Michael Henry of the consulting firm Accenture says, in this day and age, it makes sense.
Michael Henry: Exchanges world-wide are merging and consolidating, and technology definitely plays a role in that integration. Because the more products and the more markets you can put on to your platform, the lower the technology costs become.
The AMEX was started in 1842 by traders who were barred from the NYSE. They traded on the sidewalk, and didn’t move indoors until 1921.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
