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Friday, September 30, 2005

Data News #2005 - 54
Daily List Changes for Issue Suspensions/Deletions

Effective November 1, 2005, a new Issue Event, Issue Suspensions, will be added to the Daily List.

Background

Currently, when as issue delists from NASDAQ®, the deletion is immediately effective, and communicated via the Daily List as an Issue Deletion. Following exchange registration, NASDAQ will be required to obtain Securities and Exchange Commission (SEC) approval for all issue delistings. Until such approval is granted, the issue will be in a suspended state. Upon SEC approval of the delisting application, the issue will be deleted from NASDAQ.

In response to this two step delisting process, NASDAQ will be making the following changes to the Equities file in the Daily List:

  • Add a new Issue Event of Issue Suspensions. This new event will be used at the start of the delisting process to indicate that an issue is being suspended pending deletion.
  • Once SEC approval of the delisting application is obtained, a subsequent Issue Event of Issue Deletion will be published in the Daily List.

The Daily List Specifications have been updated to include this new Issue Event.

Test files are available:

Please note that this change will be implemented on November 1, 2005. If NASDAQ has not yet received approval of its application to register as a national securities exchange by that date, Daily List users will see two Daily List events, Issue Suspension and Issue Deletion, on the same day for issues that are delisting from NASDAQ. Upon exchange registration, Issue Suspension will always precede Issue Deletion by at least ten days.

NASDAQ Contact Information

If you have any questions regarding this change, please contact NASDAQ Market Data Distribution at 301.978.5307 or MKTDATASVC@nasdaq.com.