The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announced today it will offer pricing based on global transaction volume, together with new listing services which will allow companies to more easily list on multiple NASDAQ OMX markets worldwide. It is the first global exchange to offer these services and benefits as part of its business model.
Additionally, NASDAQ OMX said it intends to file an application to become a Recognized Investment Exchange (RIE) and thereby launch a London listing venue. NASDAQ OMX Europe, its new Multilateral Trading Facility (MTF) has received regulatory approval and will begin trading on September 26, 2008.
The new transaction pricing will provide cost incentives for firms conducting trading across NASDAQ OMX's United States and Nordic markets and NASDAQ OMX Europe, linking the markets in a new way. NASDAQ OMX's new listing services will allow companies to access multiple listing markets more efficiently, and with less bureaucracy. These markets include the U.S., the Nordic region, the Gulf region and, with regulatory approval, London.
Bob Greifeld, Chief Executive Officer of NASDAQ OMX said, "We have listened to our customers carefully and believe this is the model for how global exchanges should deliver products and services." He continued, "Global customers want to deal with global enterprises. While this has been the norm in most industries, the exchange space has been the exception to the rule. NASDAQ OMX is the first exchange to execute on the promise of consolidation, which is to function as an integrated, global enterprise."
Greifeld added, "The goal is to provide customers with the economic benefits of our scale, options that will allow them to expand their investor base more efficiently, and a relationship that seamlessly crosses borders."
The new global customer initiative includes:- Tiered transaction pricing which can provide customers with a lower total cost of trading in NASDAQ OMX liquidity pools in the U.S., London, and the Nordic exchanges, based on aggregate volume.
- Listing across its U.S., Nordic markets and the Dubai International Financial Exchange (DIFX). Companies wishing to list in these markets will be able to do so through an integrated application process, and in some markets, utilize their filings with the U.S. Securities and Exchange Commission.
- Plans to launch a listing venue in London to serve companies across a range of market capitalizations.
"Our focus is on providing listed companies with better and more efficient ways to attract multiple types of investors. Our new planned listing venue in London will provide additional European visibility to our listed companies and further expand our reach across Europe," commented Magnus Bocker, President of NASDAQ OMX. He added, "Across all our markets, we are rolling out services including Directors Desk, Board Recruiting, Shareholder.com and GlobeNewswire."
Transaction pricing recognizing aggregated trading across liquidity pools will become effective September 26, 2008.
NASDAQ OMX markets will begin accepting global listing applications immediately.
