WALL STREET: The Other Exchange

On the American Stock Exchange last week, the frenetic trading almost swamped the tickers. In one day, trading boiled to 3,520,000 shares, highest since 1929 and equal to 93% of that day's volume on the New York Stock Exchange. So far this year, volume has equaled 53% of the New York Stock Exchange's, v. 32% last year. Unable to keep pace with the new popularity, the AmEx tape often trails five, ten, even 25 minutes behind. Its nearly 1,300 tickers, which transmit prices to 215 cities, print only 300 characters a minute. But able AmEx President Edward ("Ted") McCormick,...

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