The Nasdaq OMX Group (Nasdaq:NDAQ) announced today that CME Group (Nasdaq:CME) (NYSE:CME) will list its common stock solely on The Nasdaq Global Select Market.
CME Group will cease listing on the NYSE on July 11, 2008 and commence trading on The NASDAQ Global Select Market on July 14, 2008 under the symbol (Nasdaq:CME). CME Group has been listed on the NYSE since December 2002 and dually listed its stock on the NASDAQ in May 2005.
Bob Greifeld, Chief Executive Officer of The NASDAQ OMX Group said, "The CME Group has been an innovative exchange leader that understands trading efficiencies. We are pleased to see them make this switch, which we believe will benefit their shareholders. NASDAQ OMX provides the fairest and most transparent stock market and as a result we have seen companies like CA, DIRECTV, and Charles Schwab switch to our market. We look forward to continuing our long-standing relationship between CME Group and NASDAQ OMX," added Mr. Greifeld.
Magnus Bocker, President of The NASDAQ OMX Group said, "CME Group and NASDAQ OMX share a similar market philosophy and we are delighted to see them shift from a dually-listed company to solely list on The NASDAQ Global Select Market. In addition, the CME Group has been a NASDAQ OMX corporate services customer over the past few years and we are delighted to have their listing solely on our global exchange."
The CME Group's decision to solely list on NASDAQ OMX follows other recent company switches to NASDAQ in the past three years with a market cap of over 115 billion from a variety of sectors including finance, healthcare, and technology. NASDAQ OMX has a Chicago based office and currently has 59 listed companies based in Chicago with a market capitalization exceeding 59 billion.
NASDAQ OMX Corporate Services are designed to help companies manage investor communications, maximize board effectiveness, comply with disclosure and regulatory obligations and evaluate their risk management coverage.