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AMERICAN STOCK EXCHANGE

Historical Timeline

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1929

1953

1975

1993

2008

1930

1971

1979-1988

1998

The New York Curb Market changes itsname to the New York Curb Exchange.

The New York CurbExchange changes itsname to the AmericanStock Exchange.

1950s

Radio Amex is launchedto broadcast stock prices,market index movements,and other marketinormation. IBM punchcards are used to quicklyobtain closing prices orbroadcast.

The Amex attracts agrowing number o young,entrepreneurial companies toits list. The value o shareslisted on the Amex growsrom $12 billion in 1950 to$23 billion by 1960.

The Amex launches itsoptions market. An investoreducation program comprisedo lms, slides, printedmaterials, seminars, andresearch explains the risksand potential rewards o thenew product.

The American Stock Exchange pioneers deritrading with the introduction o the rst exctraded und (ETF): Standard & Poors DeposReceipts (SPDRs). Nicknamed Spiders, thbecomes the largest ETF in the world.

The Amex joins the NEuronext group o excenhancing the compaposition in U.S. optioexchange traded undand cash equities, an

a leading venue or listrading closed-end ustructured products.

To meet increasing share volume,the trading foor is expanded tomore than twice its size. Theentrance to the Exchange ismoved to 86 Trinity Place.

The Curb Exchange is theleading international stockmarket, listing more oreignissues than all other U.S.securities markets combined.

The NYSE and the Amexconsolidate key automation andservice acilities in a new jointly

owned corporation, the SecuritiesIndustry Automation Corporation(SIAC).

The Amex is incorporated as a not-or-prot corporation.

The trading foor isexpanded to deal withrising trading volumesin both stocks andoptions. Two balconiesare constructed overopposite ends othe trading foor, amezzanine trading levelopens and, with thepurchase o 22 ThamesStreet, the tradingfoor extends into theadjoining building.

The Amex merges with the National Asso

o Securities Dealers to create The NasdAmex Market Group. The Amex regains iindependence in 2004.

1790

1921

1890s

1904

The ederal government issues $80million in bonds to repay RevolutionaryWar debt, marking the birth o the U.S.investment markets. Two years later,24 stockbrokers sign the ButtonwoodAgreement and eventually move to theTontine Coee House to trade. Otherbrokers continue trading in the street.

1830s

Traders doing businessin the street come to becalled curbstone brokers.Typically, the curbstonebrokers specialize in thestocks o small, newlycreated enterprises, suchas turnpikes, canals andrailroads.

The New York Curb Market moves indoors to a newbuilding on Greenwich Street in lower Manhattan.New trading posts are topped by a globe thatresembles the lampposts let behind on the street.

The curb market moves to BroadStreet near Exchange Place.

The New York CurbMarket is created,with a constitutionthat sets higherbrokerage andlisting standards.

1840s

During the Caliornia GoldRush, curbstone brokersmake markets or miningcompanies, acilitatingdevelopment o a new andrapidly growing industry.

1859

Petroleum is discovered in westernPennsylvania and oil stocks aresoon traded on the curb market.

1864

Open Board oStock Brokers opens,ounded in part byormer curbstonebrokers. It mergeswith the New YorkStock Exchangein 1869.

1850s

The curbstone brokers locate a market at

the corner o Wall and Hanover streets;later at William and Beaver streets.

AmericAn Stock exchAnge

hsal tl

1865

Following the Civil War, stocksin small industrial companies,such as iron and steel, textilesand chemicals, are rst sold bycurbstone brokers.

Emanuel S. Mendels beginsto organize the curb marketto promote sound and ethicaldealings. In 1908, the NewYork Curb Market Agency isestablished, codiying tradingpractices.

1911

From nearby ofce windows,clerks communicate buy and

sell orders to their brokersusing hand signals.

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The American Stock Exchange has a long and colorul history. Originally known as

curbstone brokers, the ancestors o todays Amex market proessionals traded

out in the street in all kinds o weather in the rain and snow, and in the dog days

o summer.

The curbstone brokers were open and inclusive, independent and tough. They

took a chance on emerging industries, invested in smaller companies, and seized

new investment opportunities. Providing a robust market or entrepreneurial

growth companies, the Amex helped a large segment o corporations to grow and

prosper. Over the course o two centuries, the Amex has been at the oreront o

the U.S. fnancial markets serving its listed corporations and investors alike.

Now NYSE Euronext welcomes the historic American Stock Exchange into the

worlds largest and most liquid exchange group. This union will signifcantly en-

hance NYSE Euronexts scale in U.S. options, exchange traded unds (ETFs),

closed-end unds, structured products and cash equities. In addition, the com-

bined company will:

Enable NYSE Euronext to operate a compelling dual market structure making

available to all customers the choice o price-time priority on NYSE Arca and

the Amexs traditional market-maker model;

Provide additional volume to NYSE Euronexts robust U.S. options business,

making it the third largest U.S. options marketplace;

Operate a third, complementary U.S. cash equities exchange, in addition to

the NYSE and NYSE Arca;

Strengthen NYSE Arcas leadership position in ETF listing and trading; and Oer a leading venue or listing and trading closed-end unds and structured

products.

NYSE Euronext operates the worlds leading fnancial markets, providing the

platorms on which world-class companies can raise the capital that drives the

worlds economy. Investors can participate in that growth through our liquid, air

and accessible markets. NYSE Euronext provides the most compelling venues or

investment products and services to the fnancial-services industry.

The addition o the American Stock Exchange to this alliance means that we will

continue to oer the most attractive and diverse array o products o any globalexchange.