NYSE invites AMEX indoors
The American Stock Exchange initially began as a group of investors barred from the New York Stock Exchange. Michael Henry of Accenture says, in the consolidation age, a merger just makes sense.
Traders on floor of the New York Stock Exchange (Stephen Chernin/Getty Images)
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Doug Krizner: The New York Exchange and the American Stock Exchange are getting married. NYSE Euronext is buying the AMEX for $260 million in stock.
There'd been a lot of speculation about this deal happening. Michael Henry of the consulting firm Accenture says, in this day and age, it makes sense.
Michael Henry: Exchanges world-wide are merging and consolidating, and technology definitely plays a role in that integration. Because the more products and the more markets you can put on to your platform, the lower the technology costs become.
The AMEX was started in 1842 by traders who were barred from the NYSE. They traded on the sidewalk, and didn't move indoors until 1921.
