Ocean Power Technologies Inc (OPTT)

[$oldier Hard]

The NYSE American is a specific tier of the NYSE. The NYSE American used to be known as the American Stock Exchange (AMEX), until the New York Stock Exchange purchased the AMEX in its entirety in 2008. The NASADAQ and NYSE American are essentially business operations that compete for attention and publicly traded companies. The NYSE American claims that choosing their exchange increases a company’s access to dedicated funding, has greater advocacy and networking opportunities. While each exchange is governed by SEC regulations, there are also specific rules that apply to each exchange.

The NYSE American offers investor relations, broker-dealer networking, and marketing services, and uses the Designated Market Maker (DMM) model. Under this model, a DMM is assigned to each security, and then both manual and electronic methods are used to create a stable market price. The DMM is also used to create an auction model, where all bids are recorded in the marketplace, and an opening price of the assigned securities is set each day. The DMM essentially acts as an intermediary party between the broker and market participants and the execution of trades, and generally increases trading volume.