The
The NASD signed a letter of intent last week to sell the nations third-largest exchange to
NASD originally purchased Amex back in 1998, but the benefits of the deal never materialized due to intense competition from electronic trading platforms and a grueling bear market. In 2000, NASD opted to put the exchange up for sale in order to focus more closely on regulation of the securities industry.
The deal is still pending approval from the NASD's board of governors, the Amex members and the
No job cuts are expected as a result of the deal.
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