Whats the difference between the New York Stock Exchange (NYSE) and the American Stock Exchange (AMEX)?
Both are auction markets for stocks and bonds. But on average, the AMEX caters to smaller companies, and a far greater percentage of its trading is done by non-institutional traders. The average price per share for AMEX listed stock is notably lower. To an extent, the American Stock Exchange serves as a proving ground for companies that later qualify for listing on the NYSE — even though some eminent companies remain on the AMEX by choice.
