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Tuesday, December 23, 2008

Data News #2008 - 103
NASDAQ Releases Preliminary List of Market Tier Changes for January 2, 2009

Please Route to:

  • NASDAQ Daily List Subscribers
  • NASDAQ Market Data Redistributors

What you need to know:

  • Each year, NASDAQ reviews listed companies to determine whether any are eligible to be included in the NASDAQ Global Select Market.
  • As a result of this year’s review, NASDAQ believes that 61 issues will be subject to a market tier change from NASDAQ Global Market to NASDAQ Global Select Market, effective January 2, 2009.
  • NASDAQ will confirm its market tier changes on December 31, 2008. Once the list is finalized, NASDAQ will post a follow-up notice to confirm the market tier changes.

What is the NASDAQ process for market tier reviews?

As of July 2006, NASDAQ® supports three listing market tiers: NASDAQ Global Select MarketSM, NASDAQ Global MarketSM and NASDAQ Capital Market®. The highest tier — the NASDAQ Global Select Market — is reserved for public companies that meet the most stringent initial listing standards in the world as measured by market value, liquidity and earnings. For details on NASDAQ listing standards, please refer to the Listed Companies section of NASDAQ.com.

Each October, NASDAQ reviews its listed companies to determine whether any are eligible to be included in the NASDAQ Global Select Market. Any listing tier changes that result from this review take effect on the first business day of January of the following business year.

How many companies does NASDAQ expect to change market tiers in January of 2009?

Based on its review, NASDAQ expects that 61 listed companies will be eligible to move from the NASDAQ Global Market to the NASDAQ Global Select Market tier on January 2, 2009.

Based on its current practice, NASDAQ is posting the preliminary list of market tier changes for the market data community one week in advance. It should be noted that NASDAQ is still completing its review, so the list is subject to change between now and the end of the year.

NASDAQ will post the final list of market tier changes on Wednesday, December 31, 2008. Market tier changes that result from the annual review will become effective on Friday, January 2, 2009.

Who should I contact for additional information?

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