The new listing market will provide companies that would not otherwise qualify for an exchange listing the opportunity to list and trade their shares in a well regulated and transparent environment.
According to Nasdaq, for companies already trading in the over-the-counter markets, contemplating an initial exchange listing or those delisted from a national securities exchange, the BX Venture Market will provide a new, better-regulated listing alternative.
Listing standards for this market will require companies to comply with many of the same corporate governance requirements as are required for listing on other securities exchanges and maintain basic quantitative standards.
Trading will be available on Nasdaq OMX’s INET platform, an advanced trading technology.
NASDAQ OMX senior vice president Bob McCooey said the BX Venture Market is a new listing alternative that supports capital formation for early stage and smaller companies in a transparent and well-regulated environment.
"In addition, the BX Venture Market can provide a new exit opportunity for the long-term investments made by venture capitalists who support job creation and ongoing US competitiveness," McCooey said.
