Companies are driven by factors beyond costs to select venue, such as the reputation of the venue and peer listings. The SEC will also establish third party to maintain database for ticker symbols. Read All Comments Have question? Ask our community of experts here. More On This TopicCompanies NDAQ Portability of the ticker reduce switching costs, but do not expect massive switches. Many of those coveted symbols trade on the Big Board, the worlds largest stock exchange by the market capitalization of listings.
IBM Article Controls EMail . EMail Newsletters . RSS Thomson Financial NewsREFILENasdaq wins battle with NYSE over stock symbols11. 08.
regulators this week approved plan spearheaded by Nasdaq parent company Nasdaq OMX Group allowing companies to hang on to the rights to up to symbols each. Among those moving in the other direction, Nasdaqlisted jobs website operator Monster Worldwide Inc nasdaq MNST news people the Boston Stock Exchange, and the Pacific Exchange, which is NYSE Arca. Neither the Subscriber nor Thomson Financial News warrants the completeness or accuracy of the Service as trading aid and neither accepts any liability for losses howsoever incurred. NYSE spokesman Rich Adamonis said NYSE anticipated the SECs decision.
Nasdaq filed its proposal with the SEC in backed by the National Stock Exchange, the Chicago Stock Exchange, and the Pacific Exchange, which is NYSE Arca. Also, fellow exchange CME Group Inc, which was listed on both NYSE and Nasdaq, moved solely to Nasdaq. Symbols aside, there are many other attributes that distinguish the NYSEs value to our listed companies, he said. Nasdaq has long complained that the prospect of losing those symbols has dissuaded companies from changing venues, and believes the branding victory will help it lure listings to its venue.
NYX > EMail . EMail Newsletters del. icio. us . Digg It! . My Yahoo! . Share . RSS Related Sections Home > News & Analysis > News Headlines BRANDING BUSINESS Despite Nasdaqs lower listing fees, few companies have switched from NYSE, said Diego Perfumo, an analyst at Equity Research Desk, Connecticutbased advisory firm specializing in exchanges. Special Reports Subscriptions> Subscribe To Newsletters Subscriber Customer Service. Nasdaq, which has more but generally smaller listings, has aggressively tried to lure companies away from NYSE with lower fees.
