NEW YORK, Feb. 2 (Korea Bizwire) — Nasdaq (Nasdaq:NDAQ) will launch its experimental pricing program today with lower access fees for 14 stocks representing both small and large capitalization companies traded on U.S. equity listings venues.
The program reduces the access fee to five cents per 100 shares from 30 cents per 100 shares in 14 stocks and reduces the rebates for liquidity provision on The Nasdaq Stock Market. This experiment will generate much-needed data about the impact of the level of access fees on areas that matter most to investors and public companies such as the level of off-exchange trading, price discovery, trading costs, displayed liquidity and execution quality.
“We have a bias to action and finding solutions based on empirical evidence,” said Tom Wittman, Head of Global Equities and Executive Vice President of Global Trading and Market Services at Nasdaq. “Today we move forward proactively with our experimental pricing program to see how lowered access fees affects the quality of the markets for investors and public companies.”
The duration of Nasdaq’s experimental access fee program will be no less than four months. Periodically, Nasdaq’s Economic and Statistical Research Group will publicly post the results of the program. Statistics to be analyzed and discussed are changes in market share, displayed liquidity, effective spread and volatility amongst other metrics.
Nasdaq’s Global Equities group builds and drives trading platforms that support global economies by creating fair and transparent markets, innovating in new regions and enabling greater opportunities for investors.
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to more than 3,500 listed companies with a market value of over $9.1 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaq.com/ambition or www.nasdaqomx.com.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about the Experimental Access Fee Program, Nasdaq and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These factors include, but are not limited to factors detailed in Nasdaq’s annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
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Source: Nasdaq OMX Group via GLOBE NEWSWIRE