Nasdaq Inc asked regulators on Wednesday to allow issuers of thinly-traded stocks listed on its exchange to trade almost exclusively on Nasdaq, as part of a broader plan to boost trading in small- and mid-sized companies.
There are 13 U.S. stock exchanges, with at least two more preparing to launch, and a company's shares can be traded on any of them, regardless of whether they are listed on the Intercontinental Exchange Inc's New York Stock Exchange, or Nasdaq.The U.S.
"Nasdaq proposes to establish a tier nestled within the U.S. public equity markets that is better tailored and far more hospitable to thinly-traded securities than is the all-purpose, undifferentiated market environment in which they suffer today," the New York-based company said. For instance, exempting thinly-traded stocks from a rule that says trades must happen at the best displayed bid or offer in the market, would allow the exchange operator to use on-demand auctions to further pool liquidity. And allowing issuers to pay market makers to maintain quotes on their stock could lead to more attractive spreads and more orderly openings and closings of the stock.
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