Irate Amex members pose threat to Nasdaq’s spinoff
Members of the American Stock Exchange are considering a lawsuit that could derail the National Association of Securities Dealers' plan to spin off the Nasdaq Stock Market.
The legal threat is the clearest indication that the 15-month-old merger of NASD and the Amex has failed to live up to its promise.
At the time of the merger, NASD chairman Frank Zarb said his goal was to create a "market of markets," where public companies could freely decide whether to list their
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