Nyse Euronext (NYX) today announced that Nyse Amex LLC, the self regulatory organization, will be renamed Nyse MKT LLC effective May 14, 2012, subject to SEC filing.
NYSE MKT is the premier U.S. equities market for listing and trading of small growth companies. NYSE MKT's associated options market will continue to do business under the name NYSE Amex Options.
"NYSE MKT is a fully integrated trading venue within the NYSE Euronext community and the new name reinforces that fact," said Scott Cutler, EVP and Co-Head of U.S. Listings and Cash Execution at NYSE Euronext. "The venue is dedicated to growth-oriented companies in the U.S., and we continue to enhance the platform to best meet the needs of these clients."
NYSE MKT leverages the NYSE's advanced and innovative market model to offer a premier venue for listing and trading the stocks of small companies. The venue utilizes the trading, connectivity and routing technologies of the NYSE platform and offers superior price discovery, liquidity and reduced trading volatility. Listed companies benefit from issuer-selected Designated Market Makers (DMM) that utilize world-class NYSE trading systems to discover and improve prices, dampen volatility, add liquidity and enhance value. In addition, NYSE MKT-listed companies gain access to the brand visibility and are eligible for the issuer services enjoyed by the NYSE Euronext community.
"Our relationship with NYSE Euronext as an NYSE MKT-listed company has been truly valuable to our business and our shareholders," said W. Barry Gilbert, Chairman and CEO of IEC Electronics Corp. "This name change makes it even more apparent that we are a part of the world's leading exchange group."