In 1998, the American Stock Exchange merged with the National Association of Securities Dealers (NASD), the same organization that manages the NASDAQ stock market. The combined companies, however, continued to operate as separate exchanges.
In late 2003, the American Stock Exchange regained its independence. After only five years under the control of NASD, The Amex Membership Corporation completed an agreement to transfer control of the exchange back to its membership. At one time, the Amex claimed to be the second largest options exchange in the world.
In January 2008, NYSE Euronext announced it was acquiring the American Stock Exchange for $260 million in stock. The deal was completed on October 1, 2008, and the exchange was re-branded as the NYSE Amex Equities. In May 2012, further rebranding now has the company name as NYSE MKT, LLC.