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New Nasdaq-100 Index Mechanism to Allow Entry for New Stocks as Early as 15th Day of Listing
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Nasdaq (NDAQ.US) is set to introduce new rules to, among others, speed up the inclusion of newly listed large companies into its Nasdaq-100 Index. Cameron Lilja, Nasdaq's global head of index solutions, told Reuters that the company is reforming the rules to ensure that newly listed large companies and those transferring boards can join the Nasdaq-100 Index without a prolonged waiting period. These new rules will take effect on May 1, but changes in the index components are expected to occur in June. The new rules include a fast-track inclusion mechanism, under which Nasdaq will rank the market cap of new stocks on the 7th trading day and assess whether these new stocks are among the top 40 index components for potential eligibility. If a new stock meets all eligibility criteria, it will be fast-tracked into the Nasdaq-100 Index after the 15th trading day. AAStocks Financial News |
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