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Amex prepares to demutualise

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The American Stock Exchange (Amex) has announced that its board of governors has approved a course of action that could initiate the process of demutualisation. Amex seat-owners will be presented with the opportunity to vote on the demutualisation plan, which would convert their seats into shares.

The exchange listed 136 new structured products last year, up from 115 in 2004. At the end of December 2005, Amex traded 373 structured products.

The stock market value of the Amex could amount to ar

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