By:  Cydney Posner

Nasdaq has announced that it has filed with the SEC the initial listing standards for the new NASDAQ Global Select Market, Nasdaq's new tier that it claims will have the highest financial and liquidity standards in the world. See my posting of 2/16/06. Nasdaq indicates that no further regulatory action is required for the new market to begin operations, which is scheduled for July 1, 2006.

Nasdaq reports that more than 1,000 Nasdaq companies currently qualify for the new tier, while approximately 1,650 companies will meet the standards for the NASDAQ Global Market (the new name for the Nasdaq National Market, starting July 1) and 550 companies will qualify for the Capital Market (formerly the NASDAQ Small Cap Market). Nasdaq will assign qualified Global Market companies to the Global Select Market, and qualified Capital Market companies will be able to elect to be included in the Global Select Market. Nasdaq will contact all Nasdaq companies with details in June. The continued listing standards will be the same for the Global Select and the Global Markets.

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