📈Nasdaq's Rule Change Enhances Services for Eligible Switches
Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Order Granting Approval of a Proposed Rule Change To Modify the Package of Complimentary Services Provided to Certain Eligible Switches and To Modify the Definition of an Eligible Switch
Summary
The Securities and Exchange Commission approved Nasdaq's proposed rule change to enhance its package of complimentary services for companies switching their listings, expanding the eligibility criteria beyond the New York Stock Exchange. This initiative aims to streamline services and bolster competition among national securities exchanges, ensuring companies receive valuable tools during their transition.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed rule change by Nasdaq modifies the definition of "Eligible Switch" and adjusts the complimentary services provided to companies switching their listing, potentially affecting financial strategies and compliance for businesses transitioning to Nasdaq. Companies with market capitalizations of $750 million or more can expect tailored service packages benefiting their market entry and stakeholder engagement.