Some of you are aware but probably most of you don
Post# of 98008
Some of you are aware but probably most of you don't know that there will be a new NASDAQ BX Venture Market launching in 2012.
Besides being an actual exchange, it will also have listing standards and active market surveillance, which will go a long way of distancing those "real" companies from the non-reporting dreck that trades pink.
The BX Venture Market will have minimal quantitative listing standards, companies must comply with many of the qualitative requirements for listing on other securities exchanges. The willingness of these companies to meet these qualitative requirements will help them demonstrate their commitment to their investors/owners and help distinguish them from other companies.
| : | Companies that list on the BX Venture Market will likely be smaller companies that nonetheless need to meet significant qualitative listing requirements. Among these, requirements will be:
|
Public Float - 200,000
Public Shareholders - 200
Market Value - $2,000,000
Market Makers - 2
Bid Price $.25
Balance Sheet Requirement - $5 million in assets
Operating History - 1 year
12 Month Plan to Maintain Sufficient Working Capital
Corporate Governance
Fully Independent Audit Company
Sarbanes Oxley and Dodd-Frank Compliant
Companies would be required to have a fully independent audit committee with 3 members.
| The BX Venture Market will provide smaller companies with a regulated and transparent listing venue . Companies that were previously listed on other national securities exchanges will be able to maintain an exchange listing, potentially allowing institutional shareholders to continue holding their shares. Companies moving from the over-the-counter market to the BX Venture Market will demonstrate a greater commitment to their investors/owners, distinguish themselves from other companies, and will benefit from trading in a highly visible environment. |
http://nasdaqomxbx.cchwallstreet.com/NASDAQOM...grules.pdf
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