The New York Stock Exchange has secured nine listing transfers from competitors this year, representing nearly $500 billion in market capitalization. Notable companies including AstraZeneca, Kraft Heinz, and Fifth Third Bancorp moved to the exchange, which also reported a record 1.166 trillion messages processed on November 5.
As the exchange losing nine issuers with roughly $500 billion in market cap versus $185 billion flowing the other way, Nasdaq faces reputational and listing-revenue headwinds. However, this is a self-promotional NYSE press release with no Nasdaq financial figures, and listing fees are a small revenue line, so the effect is likely modest.
- ▼ Nine Nasdaq-to-NYSE transfers year to date, including three former Nasdaq-100 constituents
- ▲ $185 billion of market cap also moved from the NYSE to Nasdaq this year