In early May, Nasdaq submitted a rule proposal to the SEC that would create a distinct fee for regulation and separate that fee from tape revenue sharing. Although the SEC has abrogated Nasdaq's proposal, Nasdaq is pleased that the SEC has taken steps to eliminate the tape sharing in Nasdaq securities across all exchanges that necessitated its original rule filing.
"We believe that Chairman Pitt and his colleagues at the Commission have reaffirmed their commitment to the comprehensive, high-quality regulation of our nation's equity markets," said Wick Simmons, chairman and chief executive officer of Nasdaq. "This commitment is particularly important as we work together to reassure the public regarding the integrity of the U.S. equity markets."
Nasdaq is the world's largest stock market. With nearly 4,000 companies, Nasdaq lists more companies and trades more shares per day than any other U.S. market. Over the past five years, Nasdaq has outpaced all other U.S. markets in listing IPOs. It is also home to category-defining companies that are leaders across all areas of business including technology, retail, communications, financial services, media and biotechnology industries. With operations on three continents, Nasdaq is a key driver of global capital formation.
For more information about The Nasdaq Stock Market, visit the Nasdaq Web site at http://www.nasdaq.com or the Nasdaq NewsroomSM at http://www.nasdaqnews.com.
