NASDAQ Listing Guide
posted on
Jan 19, 2015 11:29AM
An interesting read, there are a couple of highlighted statements that were selected by me. Interesting to me that the company wants to enter on a position of strength. There are multiple definitons and possible interpretations of this term. Its a much larger document than is shown here, but the basics are a good read.
No matter what, the exposure of the exchange will bring in an even more diversified investing cross section to the stock. It will be the tonic to PTKs Gin.
Introduction
Welcome to Nasdaq, where the ideas of tomorrow find capital today!
We invented electronic trading in 1971 and are proud that the revolutionary model that we developed 40 years ago is now the standard for markets worldwide. With our unsurpassed technology, an emphasis on transparency, and advanced tool set, we offer a unique and compelling value that attracts new firms to our markets. We then provide quality customer service, exceptional visibility opportunities and ground-breaking market intelligence resources. In short, we bring our entire business ecosystem to bear for our listed companies. With this unique value proposition, Nasdaq is the listing venue of choice for the world’s most exciting companies.
This document is designed to be a practical guide to the listing process, giving you all the essential information your company needs to pursue a listing on the Nasdaq Stock Market. For your convenience, listing application forms and related listing materials are available electronically through the Nasdaq Listing Center.
Questions regarding the listing process should be directed to Listing Qualifications at
+1 301 978 8008. Please also review our list of frequently asked questions.
January 2015 The NASDAQ OMX Group, Inc.
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Listing Timeline
While it generally takes four to six weeks to process a listing application, this time frame is variable and may be shortened considerably, if the application raises no issues and the company responds quickly to Staff comments.
Week 1. Company submits application for listing and Nasdaq Listing Qualifications Staff begins its review.
Weeks 2-3. Staff completes its preliminary review and prepares comment letter.
Weeks 3-4. Company addresses any issues raised by Staff.
Weeks 5-6. Staff completes their review and company is approved for listing.
Short Document Checklist
Since we are able to gather much of the information needed to verify compliance from publicly available sources, the forms and supporting documentation you need to apply to Nasdaq should take only a short time to prepare. You may click on the links below to preview the respective form.
1. Symbol Reservation Form. This form is required to reserve or change your trading symbol. Symbol reservation requests may be submitted up to two years in advance and can be completed online through the Listing Center.
2. Listing Application. This form can be completed online through the Listing Center.
3. Listing Agreement. This form can be completed online through the Listing Center.
4. Corporate Governance Certification. This form can be completed online through the Listing Center.
5. Check Payment Form. All payments to Nasdaq may be made by check or wire.
This form is only required when making payments by check. Companies must submit the application fee along with their application. The full entry fee is due prior to the first day of trading.
6. Logo Submission Form. This form can be completed online through the Listing Center.
January 2015 The NASDAQ OMX Group, Inc.
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Electronic Application Process
The Listing Center is our online document portal, which supports the electronic submission of listing applications and forms. Our online process streamlines the preparation of applications and forms by pre-populating your form with much of the required information. Companies can also take advantage of this online portal to safely and securely submit supplemental documentation. We even store completed forms and supporting documents so they will be readily accessible for future reference. For more information on how to complete a Listing Application electronically, please take a few minutes to view our frequently asked questions.
Gather Company Information
Before you start, gather some basic company information. Users completing forms for companies listing on The Nasdaq Stock Market will need to provide the company's Central Index Key (CIK) code, current or reserved trading symbol and CUSIP. Using this information, we can pre-populate much of the company's general information for you. In order to help you gather all the information you will need to complete your form, you may access many of our forms in preview mode. If you have not already reserved your trading symbol or you would like to change your symbol upon listing, please complete a Symbol Reservation Form before you begin.
Create an Account
If you have not already done so, you must create a User Account to complete forms on the Listing Center. You will be asked to provide your email address and basic contact information so we can email you a link used to verify your credentials. Then, choose a password, answer some security questions and you’re all set.
Complete Your Application
Companies listing on the Nasdaq Stock Market can complete the entire application process electronically. You can also submit supplemental documentation electronically.
You can complete your form all at once or save your work and continue another time. You can even share your form with other users.
Connect with Your Own Listing Analyst
Within a few hours of your submission, you will receive a system-generated acknowledgement email. In a couple of business days, you will receive another email providing you with the contact information for the Analyst assigned to your application. January 2015 The NASDAQ OMX Group, Inc.
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Nasdaq Market Tiers
The Nasdaq Stock Market has three distinctive tiers:
The Nasdaq Global Select Market®,
The Nasdaq Global Market® +
The Nasdaq Capital Market®.
Applicants must satisfy certain financial, liquidity and corporate governance requirements to be approved for listing on any of these market tiers. As illustrated in the following tables, the initial financial and liquidity requirements for the Nasdaq Global Select Market are more stringent than those for the Nasdaq Global Market and likewise, the initial listing requirements for the Nasdaq Global Market are more stringent than those for the Nasdaq Capital Market. Corporate governance requirements are the same across all Nasdaq market tiers.