November 6, 2006
I view this proposed rule change by The Amex to be a very constructive step towards fostering greater competition in The National Market System.
With transaction costs having declined dramatically in recent years, the specialist's commision charges, if not competitive, have the potential to drive business away from the exchange and eliminate an important competitor from the market place.
The Amex has been an important innovator including being the birthplace of ETF's. It is important to the eintire industry for this exchange to maintain its vitality.