NASDAQ expects to implement NASDAQ Global Select on July 1, 2006. Once implemented, NASDAQ will offer three market tiers for the first time in its 35-year history. More than 1,000 NASDAQ companies currently qualify for the new tier.
In addition to the NASDAQ Global Select Market, NASDAQ will offer the NASDAQ Global Market (the new name for the NASDAQ National Market) and the NASDAQ Capital Market (formerly the NASDAQ Small Cap Market).
Under the new structure, it is estimated that approximately 1,650 companies will meet the standards for the Global Market and that 550 companies will qualify for the Capital Market. All three market tiers will maintain rigorous listing and corporate governance standards.
Details of Three-Tier Market
- NASDAQ will assign qualified Global Market companies to the Global Select Market. All NASDAQ companies will be contacted in June with details.
- The continued listing standards will be the same for the Global Select and the Global Markets.
- Qualified Capital Market companies can elect to be included in the Global Select Market.
- NASDAQ will continue to calculate and disseminate the NASDAQ Composite Index as one of the leading investor benchmarks in the world.
- NASDAQ will launch indexes based on the two new tiers, ensuring that each market tier will have an index.
About NASDAQ
NASDAQ is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. For more information about NASDAQ, visit the NASDAQ Web site at http://www.NASDAQ.com or the NASDAQ Newsroom at http://www.NASDAQ.com/newsroom/ .
