What is the NYSE Amex Composite Index
The NYSE Amex Composite Index is an index of stocks that represent a portion of securities traded on the NYSE Amex exchange. The NYSE Amex Composite Index is a market capitalization-weighted index, so the weight of each stock depends on the price of the shares and how many are outstanding.
BREAKING DOWN NYSE Amex Composite Index
The NYSE Amex Composite Index includes approximately 250 securities traded on the NYSE Amex exchange. Securities range in capitalization from approximately $25 billion to $1.7 million. The Index has a symbol of XAX. As of May 23, 2018, it traded at 2,708.26 with a one-year gain of 3.93%.
The NYSE Amex exchange has a long history of trading in the United States and has undergone several ownership changes and rebranding efforts. Listings on the exchange include global companies with small, mid and large market capitalizations. As of May 23, 2018, the largest companies by capitalization included Imperial Oil, Cheniere Energy and Cheniere Energy Partners. Meanwhile the smallest companies included Camber Energy, PEDEVCO and New Concept Energy.
The NYSE Amex exchange is located in New York City. It was founded in 1908 under the name the New York Curb Market Agency. It operated outdoors until 1921 when it moved indoors to 86 Trinity Place. It was renamed as the American Stock Exchange in 1953. Since the 1920s it has been a leading U.S. securities exchange for international listings and its operations have broadened to include options.
In 2008, the American Stock Exchange was bought by NYSE Euronext who integrated it with the Alternext European small-cap exchange and renamed it NYSE Alternext U.S. Subsequently under the ownership of the NYSE Euronext it was rebranded as NYSE Amex Equities and NYSE MKT LLC. In 2013, it was acquired by the Intercontinental Exchange (ICE) when ICE acquired NYSE Euronext. As of 2018, it is now known as the NYSE American Exchange or NYSE Amex.
The exchange is primarily an equity market exchange for emerging growth companies. It offers a variety of trading advantages on its exchange including electronic designated market makers (e-DMMS), modern execution technology, advanced trading functionality and trading in over 8,000 securities. Overall it seeks to offer its trading customers many unique features. One of which is a 350-microsecond delay mechanism which encourages midpoint trading. This mechanism helps to facilities pegged orders which provide traders with an efficient trading strategy for easily entering and exiting positions. It also boasts a competitive transaction fee structure with transaction costs ranging from zero cents to $0.0005.