Byline: Mark Skertic
CHICAGO _ The American Stock Exchange, one of the oldest names in the financial markets, is being purchased by GTCR Golder Rauner LLC, a private Chicago equity firm.
The National Association of Securities Dealers, Amex's parent, said Monday that GTCR will pay $110 million for the exchange. Rather than pocket the money, the association will use the proceeds to finish the infrastructure and operations upgrades it committed to when it purchased the Amex in 1998.
The exchange was never a huge moneymaker for the NASD, but GTCR believes the exchange can be profitable.
"Long term, the securities industry is a growth industry …