Number: RS21193
Title: Nasdaq's Pursuit of Exchange Status and an Initial Public Offering
Authors: Gary W. Shorter, Government and Finance Division 
Abstract: In March 2001, Nasdaq submitted an application for exchange status to the Securities and Exchange Commission (SEC), an application that has been amended several times to address certain criticisms. Obtaining exchange status is necessary for Nasdaq to proceed to stage three, the issuance of publicly held stock. Realization of that stage became much closer on January 13, 2006, when after more than a half decade, the SEC approved Nasdaq's application to become a registered national securities exchange.
Pages: 5
Date: May 17, 2006