What mainly comprises trades on the American Stock Exchange?

The primary focus of trades on the American Stock Exchange (AMEX) is indeed primarily composed of small-cap stocks and exchange-traded funds (ETFs). This differentiates AMEX from other exchanges that may deal more heavily in large-cap stocks or government bonds.

Small-cap stocks are shares of companies with smaller market capitalizations, typically seen as having higher growth potential but also greater volatility. This makes them attractive to traders looking for opportunities with significant upside. ETFs, on the other hand, have gained popularity for providing a way to invest in a diversified manner. They allow investors to buy a single fund that holds a collection of stocks, which can be particularly useful for both individual and institutional investors on the AMEX.

The focus on small-cap stocks and ETFs aligns with the AMEX's historical reputation for catering to a more diverse set of investment vehicles that appeal to a broader audience, rather than the traditional, larger companies that may dominate other exchanges. In contrast, large-cap stocks, government bonds, and futures contracts are more characteristic of other trading platforms, like the New York Stock Exchange or specialized commodities exchanges.