NYSE Amex LLC to be renamed NYSE MKT LLC
10 Maggio 2012 - 2:30PM
Business Wire
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.”
Effective May 14, 2012, the following indices will be
renamed:
Symbol Former Name New Name XAX
NYSE Amex Composite Index NYSE MKT Composite Index XFI NYSE Amex
Composite - Financial Subsector Index NYSE MKT Composite -
Financial Subsector Index XHL NYSE Amex Composite - Healthcare
Subsector Index NYSE MKT Composite - Healthcare Subsector Index XID
NYSE Amex Composite - Industrial Subsector Index NYSE MKT Composite
- Industrial Subsector Index XIT NYSE Amex Composite - Technology
Subsector Index NYSE MKT Composite - Technology Subsector Index XNA
NYSE Amex Composite - Natural Resources Subsector Index NYSE MKT
Composite - Natural Resources Subsector Index
As of December 31, 2011, there were more than 450 issuers listed
on NYSE MKT. In 2011, 30 new listings and 4 transfers joined the
platform. Year to date in 2012, 8 new listings have joined NYSE
MKT, including: Radiant Logistics, Inc (RLGT), GigOptix, Inc.
(GIG), Alderon Iron Ore Corporation (AXX) and NovaCopper Inc.
(NCQ).
Companies seeking to list on NYSE MKT are required to meet one
of the following standards:
1. $750,000 pre-tax income; $3 million market value of public
float; $3 minimum price; $4 million stockholders equity
2. $15 million market value of public float; $3 minimum price; 2
year operating history; $4 million stockholders equity
3. $50 million market capitalization; $15 million market value
of public float; $2 minimum price; $4 million stockholders
equity
4. $75 million market capitalization; or (at least $75 million
in total assets and $75 million in revenues); $20 million market
value of public float; $3 minimum price
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial
markets and provider of innovative trading technologies. The
company's exchanges in Europe and the United States trade equities,
futures, options, fixed-income and exchange-traded products. With
approximately 8,000 listed issues (excluding European Structured
Products), NYSE Euronext's equities markets — the New York Stock
Exchange, NYSE Euronext, NYSE Amex (to be renamed NYSE MKT), NYSE
Alternext and NYSE Arca — represent one-third of the worlds
equities trading, the most liquidity of any global exchange group.
NYSE Euronext also operates NYSE Liffe, one of the leading European
derivatives businesses and the world's second-largest derivatives
business by value of trading. The company offers comprehensive
commercial technology, connectivity and market data products and
services through NYSE Technologies. NYSE Euronext is in the S&P
500 index. For more information, please visit:
http://www.nyx.com.
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