History of the NASDAQ and American Stock Exchanges
Selected References
Compiled by Ellen Terrell
Business Reference
Services
September 2006
The American Stock Exchange (AMEX) got its start in the 1800's and was known as the "Curb Exchange" until 1921 because it met as a market at the curbstone on Broad Street near Exchange Place. Its founding date is generally considered as 1921 because this is the year when it moved into new quarters on Trinity. However, it wasn't until 1953 that it officially became the American Stock Exchange. In November 1998, the National Association of Security Dealers announced that the American Stock Exchange would merge with the National Association of Securities Dealers creating "The Nasdaq-Amex Market Group." However, there is still an active American Stock Exchange.
Run by the National Association of Securities Dealers, the NASDAQ began trading on February 8, 1971, as the world's first electronic stock market, trading for over 2,500 securities. On November 7, 2007, NASDAQ announced that it had signed an agreement to acquire the Philadelphia Stock Exchange, the oldest stock exchange in America, founded in 1790. Today it is the largest electronic stock market with over 3,000 companies listed. |
Above:
Broad Street and curb brokers, New York City, 1916 photographed by Irving Underhill.
Prints and Photographs Division (Library of Congress)
Reproduction number: LC-USZ62-119537
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