TD Ameritrade to Switch Stock Listing to Nasdaq
December 01 2015 - 10:50AM
Dow Jones News
TD Ameritrade Holding Corp. said Tuesday it would transfer its
stock-exchange listing from the New York Stock Exchange to the
Nasdaq Global Select Market.
The company expects to begin trading on Nasdaq on Dec. 14. It
expects to keep its current symbol, AMTD.
Exchanges battle fiercely over listings, which bring listing
fees as well as revenue from trading shares. While once company
shares could only be traded at a small number of select exchanges,
in recent decades the rise of fully electronic trading has allowed
about a dozen more exchanges and more than 40 private trading
venues, called dark pools, to arrive.
Still, the NYSE and Nasdaq are, by far, the largest exchanges.
According to the October monthly report of the World Federation of
Exchanges, companies listed on the NYSE had a combined $18.654
trillion market capitalization, compared with $7.413 trillion for
Nasdaq.
TD Ameritrade said in November that its Chief Executive Fred
Tomczyk would retire next September and named Canadian TD Bank
Group executive Tim Hockey to replace him.
Write to Austen Hufford at austen.hufford@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
December 01, 2015 10:35 ET (15:35 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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