A sign above the NYSE trading floor. Courtesy of NYSE.
The New York Stock Exchange said Thursday that nine companies representing nearly $500 billion in combined market value have transferred their stock listings to the exchange this year.
The figure is a year-to-date total, not nine transfers announced on Thursday. A listing transfer changes where a company’s shares trade; it is not an acquisition or a new round of fundraising.
In its November 12 announcement, the NYSE named AstraZeneca, Kraft Heinz, Skydance and Fifth Third Bancorp among the companies that moved from Nasdaq. The other transfers were Criteo, Trinity Capital, Nova Minerals, Dime Community Bancshares and Pinnacle Financial Partners.
The exchange said the companies moving to it had a median market value of $15.7 billion, compared with $1.4 billion for companies moving in the opposite direction. It put the total market value of companies leaving the NYSE this year at $185 billion, citing FactSet data. Those figures describe the size of the companies, not money paid to either exchange.
The NYSE also said its systems processed 1.166 trillion messages during the November 5 market selloff, about 4% above its previous peak. It said system performance remained in line with earlier peak days. Message volume measures electronic trading traffic, not the number of shares bought and sold.
For companies, the choice of exchange affects how their shares are traded and supported. The NYSE update points to competition for large corporate listings, although the figures come from the exchange’s own announcement.
Source: New York Stock Exchange announcement.
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