he American Stock Exchange
, the first pan-European exchange, have agreed to a joint venture, subject to regulatory approval, to cross list and trade US, European, and other international ETFs.
The joint venture will form part of a network of ETF marketplaces aiming to offer global facilities for trading, cross listing, information dissemination, and marketing the products. Ultimately, AMEX and Euronext hope to permit twenty-four-hour global trading of ETFs.
"The Amex-Euronext alliance... aims to provide investors with the opportunity to trade the same class of ETF shares across time zones" said Salvatore F. Sodano, Amex chairman and chief executive officer, in a statement.
Euronext will be the exclusive European partner for cross trading Amex-listed ETFs and Amex will be the exclusive American partner for cross trading Euronext's Trackers.
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