Finance History | Nasdaq MarketSite — CDN Left the Floor and Opened as CDNS
· 2005-10
Unreviewed contributionBy kevin · · updated · Report an issue
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Finance History | Nasdaq MarketSite — CDN Left the Floor and Opened as CDNS
kevin
People treat Cadence as a San Jose software house that always printed CDNS on Nasdaq.
The older tape was CDN, and it printed on both New York and Nasdaq.
Nasdaq's own release dated 26 October 2005 said Cadence had dual-listed on Nasdaq in January 2004 and would now list solely on the Nasdaq National Market.
CDN would stop on both venues on 28 October 2005.
CDNS would open on Nasdaq on 31 October 2005.
Nasdaq called Cadence the first New York-and-Nasdaq dual-listed company to move its listing solely to Nasdaq.
The mechanism is a venue choice, not a new issue. No shares were sold to change the tape.
The company left a floor market for an electronic one and changed the fourth letter of the ticker so the new line would not collide with the old dual symbol.
The pin is the public facade of Nasdaq MarketSite at 4 Times Square. Interior studios are not a visitor floor.
Photo: Luca Marfè, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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