Word: amex
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...last week inaugurated a new type of trading that brokers hoped would lure more small investors-and the commissions they pay -back to the market. Inspired by the success of the Chicago Board Options Exchange, first organized in 1973 as an offshoot of the Chicago Board of Trade, the Amex has brought trading in stock futures or "call options" to Wall Street...
...year's rate on the New York Stock Exchange, and a chilling 40% below 1972 on the American Exchange. The 549 member firms of the N.Y.S.E. collectively lost $75 million in this year's first quarter. Some 67 sizable brokerages are under surveillance by the N.Y.S.E. or Amex because their capital is running dangerously low; last week Weis Securities, a big Manhattan investment house, was put into the hands of a liquidating trustee. Says Broker Bradbury K. Thurlow: "I can't see why anyone in his right mind would keep money in this business...
...securities industry itself is stepping up efforts to woo the small investor back. The Amex, for example, is completing plans for its first nationwide ad campaign to sell individuals on the merits of buying stock. A turnaround in prices-which is not an unreasonable expectation if the economy continues to boom-would surely help such efforts. But because brokers have done such a thorough job of convincing the small investor that he is not wanted, they face a long campaign before they change his mind...
...paying commission rates that are set by the exchanges to meet the costs of handling small orders from individual investors rather than the institutions' big-block trades. In addition, many institutions want to buy seats on the exchanges-a practice now barred by the Big Board and Amex-to enable them to handle their own trades and pocket the money they would otherwise have to pay to independent brokers in commissions. Presumably these savings would be passed on to individual investors in the form of lower management fees or sales commissions. The SEC and Representative Moss have made specific...
...which Haack announced his departure, the governors elected a new member to their 33-man board: Ralph S. Saul. Now vice chairman of First Boston Corp., a major investment banking house, Saul was president of the American Stock Exchange through mid-1971. He successfully reshaped the once scandal-racked Amex, and many Wall Streeters gave him higher marks than Haack for general performance. If the Big Board governors follow the recommendations of William McChesney Martin's recent study, they will select a full-time chairman and chief executive. That job may well go to Saul and the operating presidency...