Amex completes migration to e-trading platform; ready for SEC's NMS rules

Source: American Stock Exchange

The American Stock Exchange (Amex) today announced that as of February 5 it has successfully completed the migration of all its equity products, structured products and exchange traded funds onto AEMISM, its new state-of-the-art trading platform, which launched November 6.

With all of Amex's equity products on the new AEMI platform, Amex will be ready to comply with the Securities and Exchange Commission's Regulation NMS rules.

"The completion of the rollout on AEMI is a great achievement for the American Stock Exchange," said Neal Wolkoff, Chairman & Chief Executive Officer. "Amex overhauled its technology and created a new world-class electronic trading platform that is fast, efficient and flexible. We are looking forward to the implementation of Reg. NMS and growing our market share."

"We had an aggressive timetable ahead of us to complete a full rollout but we accomplished our goal," said Antoine Shagoury, Chief Information Officer. "That is a testament to the hard work and talent at the Exchange. I am confident that AEMI will make the Amex more competitive in the electronic trading space."

AEMI will trade equities and ETFs at the outset but it has been designed to trade multiple instruments. Amex's new market structure will offer market participants a greatly expanded range of automated transaction services for equities and ETFs and will combine the speed of an electronic market with the dedicated liquidity of an auction market for times of order imbalances, complex trades, or when natural liquidity cannot be found.

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