The American Stock Exchange today filed a proposal with the SEC for a hybrid market that will offer participants automated execution and access to the exchange's open outcry auction market, confirmed Antoine Shagoury, AMEX chief information officer. The exchange would be ready to implement its hybrid when new SEC market structure regulations take effect in June 2006, Mr. Shagoury said. "AMEX has a very solid offering and I think we can be very competitive," he said. "I think this is a different mousetrap, a better mousetrap."
The New York Stock Exchange also has filed a hybrid market proposal with the SEC.