The American Stock Exchange announced Monday that its president, Peter Quick, has stepped down after serving five years in that position.

“I want to thank Peter for his contributions to the American Stock Exchange, particularly his leadership role during 9/11. I appreciate all his efforts and I wish him the best in the future,” Neal Wolkoff, chairman and chief executive Officer of the Amex, said in a statement.

Also, the Amex released a copy of a letter sent to its seatholders regarding the exchange’s future amid the big mergers underway in the U.S. securities trading business.

“The last five years have been difficult for Amex, but I believe we will soon turn a corner and the outlook appears bright,” Wolkoff said. He said that the firm’s priority is improving its technology, and he pledged to improve its competitiveness.

Wolkoff said its new Alternative Trading System will launch in the first quarter of 2006 with trading in equities and exchange traded funds. “ATS will not only make us more competitive but it will also unite the best qualities of the electronic market and the auction market,” he said. “We will have the speed and functionality of an ECN but continue to have auction market capabilities in times of order imbalances, complex trades, or when natural liquidity can not be found.” Options will be added in the latter half of 2006.

ATS releases will begin in June and by the end of the summer, “we expect to be able to functionally demonstrate ATS to the floor, to our customers and to you,” he said.

Wolkoff said that the Amex wants to be the home for small and mid-cap companies, “and we will fight for each one of them”.

As for questions of whether the Amex will be acquired in the wake of the NYSE-Archipelago and Nasdaq-Instinet deals, he added, “While there is no doubt that these are two significant deals, we have to remember that we have a sound business strategy and a specific, detailed plan to execute that strategy. We also have the intellectual capital, world-class membership and, with ATS and the improved ANTE, we will have the technology to be more competitive and grow our market share.”

“We will watch and see how these proposed mergers take shape. However, it is important that you know that we have great plans, a strong and focused team and, most importantly, the will to succeed,” he concluded. “We are working with a clear focus to make sure that the Amex is on a growth path. We have a long and rich history and, with your support, I want to make sure that the American Stock Exchange has a long and bright future.”