BEIJING, Sept. 26, 2007 (PRIME NEWSWIRE) -- The Nasdaq Stock Market, Inc. (Nasdaq:NDAQ) today announced that the China Securities Regulatory Commission (CSRC) has issued regulatory approval for NASDAQ to open a representative office in Beijing, China. The office will act as the Company's central office for NASDAQ's continuing efforts to provide the highest level of value and service to Chinese companies.
"NASDAQ welcomes the approval by the CSRC to open our office in Beijing," said Eric Landheer, NASDAQ's Head of Asia Pacific. "Having a representative office in China will enhance our ability to provide the highest level of value and service to Chinese companies. Year to date, 15 Chinese companies have chosen to list on NASDAQ and our pipeline remains robust. In addition, this will allow us to deepen the important dialogue we already have with China's bourses and regulatory bodies as China's capital markets continue to expand."
"The announcement that NASDAQ has been granted permission to open a formal business office in China is a milestone for our company," said Robert Greifeld, President and Chief Executive Officer of NASDAQ. "NASDAQ has had a presence in China for over a decade. We are very committed to the Chinese market and our 49 companies and look forward to further growth opportunities."
About NASDAQ
Largest by market cap:
1. Baidu.com, Inc. - $10.1bn (Internet Content - Info)
2. Focus Media Holding Limited - $6.4bn (Advertising Sales)
3. Ctrip.com International - $3.3bn (E-Commerce)
4. Shanda Interactive Entertainment - $2.7bn (Internet Content -
Entertainment)
5. Sina Corporation - $2.6bn (Web Portals)
Sector Diversity:
* JA Solar Holdings Company Ltd. - $2.2bn (Alternative Energy) * China Medical Technologies - $1.1bn (Medical Equipment) * Home Inns & Hotel Management - $1.1bn (Hotels) * Spreadtrum Communications Inc. - $622m (Semiconductors)
NASDAQ is the largest U.S. equities exchange. With over 3,100 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 as well as a leading liquidity pool for trading NYSE-listed stocks. For more information about NASDAQ, visit the NASDAQ Web site at www.nasdaq.com or the NASDAQ Newsroom at www.nasdaq.com/newsroom/.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein may contain forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements about the capabilities, timing and expected benefits of the planned trading platform, the related shareholder tracking mechanism and the PORTAL Market. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the control of The Nasdaq Stock Market, Inc., which could cause actual results to differ materially from historical results, performance or other expectations and from any opinions or statements expressed or implied with respect to future periods. These factors include, but are not limited to, NASDAQ's ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, U.S. and global competition, and other factors detailed in the Company 's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
NDAQG