American Stock Exchange Considers Going Public

The American Stock Exchange is considering going public to compete with listed opponents and raise money, Financial News Online reports.

"We will have to look at going public next year as we have not positioned ourselves to do anything at this point," said Antoine Shagoury, vice president and chief information officer at Amex.

The exchange has been independent since January when the NASD first sold its ownership to members. Analysts estimate that when Amex merges with Archipelago, the combined entity will be worth more than over $6 billion.

Amex is currently waiting for Securities and Exchange Commission approval of its new proprietary trading platform, Auction and Electronic Market Integration, which mixes auction and electronic trading.

The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.