The Auction and Electronic Market Integration (AEMI) platform has been in development since April 2004 and is intended as a hybrid market structure bringing together an auction market floor and automated trading system. The roll out is timed to coincide with the implementation of new market structure regulations in June 2006.
Amex has designed AEMI as an independent, electronic trading platform and should support all of the products currently offered by Amex, including equities, ETFs, options, and bonds.
Neal Wolkoff, chairman of Amex, said, We are anticipating great advances to our equity and exchange traded fund markets with the development of the AEMI system and we fully expect to qualify as an automated trading system under Regulation NMS. AEMI will bring the Amex to the forefront of technology and make it an even more competitive marketplace.
