NEW YORK, April 8, 2009 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) supports the SEC's thoughtful and deliberative process in examining proposed rules to place limits on short selling. Given the range of proposals the SEC must consider in the context of whether to apply new short selling rules, and given the impact of potential changes in this area of regulation, the 60-day comment period and May Roundtable are positive steps toward finding solutions that will improve market quality and investor confidence.
The SEC has had success with rules it implemented to virtually eliminate detrimental "naked short selling," and that has been an important move forward for the markets, investors and companies.
Chris Concannon, Executive Vice President, NASDAQ OMX Transaction Services, commented, "We are pleased with the way discussions progressed today and that the SEC has incorporated the 'Modified Uptick' rule suggestions proposed by NASDAQ and other markets. We are also gratified the SEC will take a quantitative approach and seek to measure the impact of any proposed changes using current and past economic studies."
About NASDAQ OMX Group
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with over 3,800 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and ETFs. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries.
NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com.
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