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Simple English definitions for legal terms
American Stock Exchange
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A quick definition of American Stock Exchange:
The American Stock Exchange is a place where people can buy and sell parts of companies, called stocks. It is located in New York City and follows rules to make sure everything is fair and legal. It is known for trading stocks of smaller or newer companies because the rules for being listed are not as strict as other stock exchanges. People often call it AMEX or ASE for short.
A more thorough explanation:
The American Stock Exchange (AMEX or ASE) is an organized stock exchange located in New York City. It is a self-regulating organization under the Securities Exchange Act of 1934 and is engaged in national trading of corporate stocks.
The AMEX often trades in the securities of young or small companies because its listing requirements are less strict than those of the New York Stock Exchange. This means that companies that are not yet established or are smaller in size can still have their stocks traded on the AMEX.
For example, a startup company that has recently gone public may choose to list their stocks on the AMEX instead of the NYSE because they do not meet the NYSE's stricter listing requirements. This allows the company to still have their stocks traded on a national exchange and potentially gain more visibility and investors.
American Society of Writers on Legal Subjects | American-style option