Charles Schwab Moves Its Listing to the NASDAQ Stock Market
December 15 2005 - 7:48AM
PR Newswire (US)
Second Dual-listed Company to Switch to NASDAQ NEW YORK, Dec. 15
/PRNewswire-FirstCall/ -- The Nasdaq Stock Market, Inc.
(NASDAQ:NDAQ) today announced that The Charles Schwab Corporation
(NYSE:SCH) will list its common stock solely on the NASDAQ National
Market effective December 20, 2005. Charles Schwab has been listed
on the NYSE since September 1987 and dual listed its stock on the
NASDAQ in January 2004. Schwab is the second NYSE dual-listed
company to move its listing solely to NASDAQ this year. Charles
Schwab common stock will cease trading under the symbol SCH on both
the NYSE and NASDAQ on December 19, 2005. The stock will begin
trading on the NASDAQ National Market under the new symbol SCHW on
December 20, 2005. Bob Greifeld, president and chief executive
officer of NASDAQ said, "The Charles Schwab Corporation is a
pioneer in discount brokerage that challenged the practice of high
fixed commissions, opening up more opportunity for investors. Their
philosophy is in keeping with NASDAQ's mission, which is to provide
the fairest, most efficient and transparent stock market possible
for investors." Greifeld continued, "We are pleased this
world-class brokerage evaluated NASDAQ to be the best trading model
for their shareholders after taking part in our dual listing
program. We welcome Schwab to the NASDAQ family of innovative
companies." About Schwab The Charles Schwab Corporation (NYSE:SCH)
Nasdaq, through its operating subsidiaries, provides securities
brokerage and financial services to individual investors and the
independent investment advisors who work with them. With over 7
million individual investor accounts and more than $1 trillion in
client assets, The Charles Schwab Corporation is one of the
nation's largest financial services firms. Its subsidiary Charles
Schwab & Co., Inc. (member SIPC) provides a complete range of
investment services and products, including an extensive selection
of mutual funds; financial planning and investment advice;
retirement plans; referrals to independent fee-based investment
advisors; and custodial, operational and trading support for
independent fee-based investment advisors through its Schwab
Institutional division. Its subsidiary Charles Schwab Bank (member
FDIC) provides banking and mortgage services and products. The
corporation's other operating subsidiaries include U.S. Trust
Corporation (member FDIC) and CyberTrader(R), Inc. (member SIPC).
These companies' Web sites can be reached at
http://www.schwab.com/, http://www.schwabbank.com/,
http://www.ustrust.com/, and http://www.cybertrader.com/. About
NASDAQ NASDAQ is the largest electronic screen-based equity
securities market in the United States. With approximately 3,200
companies, it lists more companies and, on average, trades more
shares per day than any other U.S. market. It is home to companies
that are leaders across all areas of business including technology,
retail, communications, financial services, transportation, media
and biotechnology. NASDAQ is the primary market for trading
NASDAQ-listed stocks. For more information about NASDAQ, visit the
NASDAQ Web site at http://www.nasdaq.com/ or the NASDAQ Newsroom at
http://www.nasdaq.com/newsroom/. NASDAQ makes no representation
about the financial conditions of any company. Investors should
evaluate companies carefully before investing. DATASOURCE: NASDAQ
CONTACT: Bethany Sherman, +1-212-401-8714, or Silvia Davi,
+1-646-441-5014, both of NASDAQ Web site:
http://www.nasdaqnews.com/ http://www.nasdaq.com/
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