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AMEX FIRST QUARTER HIGHLIGHTED BY INTRODUCTION OF EMERGING COMPANY MARKETPLACE, MIDCAP 400 OPTIONS

 AMEX FIRST QUARTER HIGHLIGHTED BY INTRODUCTION OF EMERGING
 COMPANY MARKETPLACE, MIDCAP 400 OPTIONS
 NEW YORK, April 27 /PRNewswire/ -- Increased revenues from higher equities and options volume, coupled with a tight rein on expenses, contributed to a profit of approximately $754,000 in the first quarter of 1992, the American Stock Exchange reported today.
 Equities trading volume of 1.14 billion shares for the first three months set an Exchange record for a quarterly period, and represented a 32.9 percent increase over the 1991 first quarter. Options turnover for the first quarter totaled 11.33 million contracts, an increase of 8 percent over the 1991 comparable period.
 Daily volume in equities averaged 18.2 million shares compared with 14.1 million for the 1991 first quarter, while options trading averaged 180,000 contracts daily as opposed to 172,000 for last year's comparable period.
 The first quarter profit of $754,000 contrasted sharply with the $114,000 net income for 1991 first quarter, and reversed losses experienced in last year's final three quarters.
 Demand for Market Data Up
 Since the last quarter of 1991, the subscriber base for the sale of communications data also increased by 4,100 units. Income, or communications charges, is derived from the sale of market data information.
 "These results project a positive note, especially as we budgeted for heavy expenditures in the first quarter with the introduction of the Emerging Company Marketplace(SM) (ECM(SM)) for growth companies and the Standard & Poor's MidCap 400 Index options program. Overall, our financial performance for the first quarter was extremely encouraging," said American Stock Exchange Chairman James R. Jones.
 Both of these new programs have gotten off to good starts, said Jones, adding that the MidCap options were introduced in February with a very strong first day volume of 15,500 contracts. Since then, trading in the MidCaps has set two new daily records exceeding 20,000 contracts. The ECM market was launched on March 18 with the number of charter companies exceeding the target and interest remaining strong in the new market.
 -0- 4/27/92
 /CONTACT: Bob Shabazian of AMEX, 212-306-1630, or home, 201-385-0746/ CO: American Stock Exchange ST: New York IN: FIN SU: ERN


GK -- NY030 -- 2986 04/27/92 09:32 EDT
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Publication:PR Newswire
Date:Apr 27, 1992
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