Free Site Registration

War of Exchanges Over ETFs

Traders Magazine, July 2001

Gregory Bresiger

The New York Stock Exchange and the American Stock Exchange are going to war over exchange traded funds. They both have suspended trading fees for 90 days in an attempt to capture more of this important business. ETFs recently began trading on the Big Board. They have made small gains in a move that was seen as a challenge to the Amex, which is the market leader in the product that is also called QQQ, Spiders and Diamonds. There's much at stake for the Amex, which depends on ETFs for about 30 percent of its bottom line and has vowed to protect this business. Both Amex and NYSE spokesman said their ETF business is booming.

Get access to this article and thousands more...

All articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, online technology directory, the iPad App, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and trading strategies.

Already Registered?