FT reported today that American Stock Exchange (ASE), the exchange with listings of many ETFs (Exchange Traded Funds), is up for sale amid expectations of a wave of consolidation among securities markets in the United States and Europe.
According to industry executives and investment bankers, National Association of Securities Dealers (NASD), the owner of ASE, has approached potential buyers, including European exchange operators.
The newspaper reported that Salomon Smith Barney would handle the sale of ASE, although people close to the exchange said it could be disposed of through an initial public offering or buyout by its members.