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NASDAQ OMX to Introduce New Symbology for NASDAQ-Listed Securities
NEW YORK, Mar 2, 2010 (GlobeNewswire via COMTEX News Network) -- The NASDAQ OMX Group (Nasdaq:NDAQ) today announced that, effective September 1, 2010, it will introduce new trading symbology in preparation for the industry's listing and trading of five-character root U.S. equity symbols as permitted by the National Market System Plan for the Selection and Reservation of Securities Symbols.
Since no cash equities exchange currently lists root ticker symbols of more than four characters, NASDAQ OMX will be required to modify its current root and suffix symbols in order to avoid investor confusion associated with the listing and trading of five-character root symbols.
Under the new symbology, NASDAQ OMX will identify all subordinate issues for NASDAQ-listed securities with the use of a "." mark. The character following the "." mark will now relay the basic information about the issue class or issue type. For example, ABCDA would become ABCD.A. The current A-Z suffix definition will not change. NASDAQ-listed symbols that follow the current suffix symbology will be migrated to the new plan outlined above.
More detailed information is available in Equity Trader Alert #2010-011:
http://www.nasdaqtrader.com/TraderNews.aspx?id=ETA2010-011
The list of affected NASDAQ-listed symbols is available at: http://media.globenewswire.com/cache/6948/file/7926.pdf
Please note this list is subject to change.
About NASDAQ OMX Group
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with approximately 3,700 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com. *Please follow NASDAQ OMX on Facebook (http://www.facebook.com/pages/NASDAQ-OMX/108167527653) and Twitter (http://www.twitter.com/nasdaqomx).
NDAQG
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: The NASDAQ OMX Group, Inc.
CONTACT: The NASDAQ OMX Group, Inc. Media Contacts: Bethany Sherman +1 212 401 8714 Bethany.Sherman@NASDAQOMX.com Robert Madden +1 646 441 5045 Robert.Madden@NASDAQOMX.com
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
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