Monday, November 14, 2005

Nasdaq to allow 1,2,3 letter symbols

Well, you can keep your phone number when you change carriers, so why not your ticker if you change markets?

Latest News and Financial Information |
"From Jan. 31, 2007 it will be able to support one-, two- and three-character stock symbols for Nasdaq-listed and NYSE-listed stocks, in addition to the four-character symbols it currently uses.

The single-character stock symbol carries a degree of prestige. It is held by NYSE-listed companies such as Ford Motor Co. (F.N: Quote, Profile, Research) and Citigroup Inc. (C.N: Quote, Profile, Research) .

Nasdaq, which competes agressively against the NYSE for listings, said the symbol that a market assigns to an issuer 'should be transferable to a competing market if that issuer chooses to switch...'"

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