NYSE Amex Composite Index
A stock market index composed of stocks included in the NYSE Amex equities market. It is a market capitalization-weighted index, i.e. reflects daily price changes and number of outstanding shares. It represents the aggregate value of the common shares or American Depositary Receipts (ADRs) of all AMEX-listed companies.
The index is used by news and analysts to measure a portion of the stock market and it is traded under the symbol XAX. It was formerly called just Amex Composite Index, but after the purchase of the American Stock Exchange (AMEX) by the New York Stock Exchange (NYSE) in 2008 changed its name first to New York Stock Exchange Alternext US, and then in 2009 changed its name again to NYSE Amex Composite Index, its current name.