American Stock Exchange (Amex)
American Stock Exchange (or Amex) is the third largest stock exchange in the world. From the very beginning, the Amex filled a niche roll as it was the original exchange for companies that did not meet the standards of the NYSE. Today, the NASDAQ fills that role and in 1998 the owners of NASDAQ purchased the American Stock Exchange.
The niche role of the American Stock Exchange has evolved and today it specializes in derivatives and options. On a typical day 60 million shares exchange hands and there are around 1,200 companies listed on the Amex.