The American Stock Exchange announced today that it has appointed Morgan Stanley to advise on possible demutualization.

The Amex board of governors and the Amex Membership Corp. have appointed Morgan Stanley to advise it on the preparation and execution of a demutualization plan for the exchange as well as potential strategic future initiatives.

Demutualization would convert the exchange from a not-for-profit corporation into a for-profit corporation. Amex seat owners would have the opportunity to vote on any proposed demutualization plan, which, if adopted, would convert their seats into shares.

Neal Wolkoff, Amex chairman and chief executive officer, said, “We are pleased to have Morgan Stanley, a leading global investment bank with a strong track record in exchange advisory and capital raising, on board to position the Amex for the future.”