Amex prepares for demutualisation; appoints Morgan Stanley
The American Stock Exchange (Amex) has formally signaled its plans to demutalise by appointing Morgan Stanley to advise it on the preparation and execution of a demutualisation plan.
A demutualisation, if completed, would convert the exchange from a not-for-profit corporation into a for-profit corporation. Amex seat owners would have the opportunity to vote on any proposed demutualisation plan, which, if adopted, would convert their seats into shares.
The number of new structured products listed on the American Stock (Amex) decreased from 136 during 2005 to 114 during 2006. In
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