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enilria
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United to move from New York Stock Exchange (NYSE) Listing to NASDAQ

Sun Aug 26, 2018 11:04 pm

I've never seen a major company leave NYSE for NASDAQ without going through Ch11 or an LBO? I wonder how much of a cost savings this represents?

United Airlines said late Friday it is abandoning a longtime berth on the New York Stock Exchange and transferring its stock listing to the Nasdaq exchange, effective Sept. 7, the day the carrier’s stock begins trading on that platform.

The carrier said its stock listing on Nasdaq will continue to be “UAL.”

The reason for the change? Cost.


https://www.bizjournals.com/chicago/new ... yptr=yahoo
Last edited by qf789 on Mon Aug 27, 2018 7:35 am, edited 1 time in total.
Reason: updated title for clarity
 
United1
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Sun Aug 26, 2018 11:11 pm

enilria wrote:
I've never seen a major company leave NYSE for NASDAQ without going through Ch11 or an LBO? I wonder how much of a cost savings this represents?

United Airlines said late Friday it is abandoning a longtime berth on the New York Stock Exchange and transferring its stock listing to the Nasdaq exchange, effective Sept. 7, the day the carrier’s stock begins trading on that platform.

The carrier said its stock listing on Nasdaq will continue to be “UAL.”

The reason for the change? Cost.


https://www.bizjournals.com/chicago/new ... yptr=yahoo


PepsiCo switched late last year from NYSE to Nasdaq citing cost as well....I'm definitely not an expert on stock exchange costs but this link suggests they can be substantial.

https://www.fool.com/investing/2017/12/ ... for-i.aspx
I know the voices in my head aren't real but sometimes their ideas are just awesome!!!
 
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enilria
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Sun Aug 26, 2018 11:16 pm

United1 wrote:
enilria wrote:
I've never seen a major company leave NYSE for NASDAQ without going through Ch11 or an LBO? I wonder how much of a cost savings this represents?

United Airlines said late Friday it is abandoning a longtime berth on the New York Stock Exchange and transferring its stock listing to the Nasdaq exchange, effective Sept. 7, the day the carrier’s stock begins trading on that platform.

The carrier said its stock listing on Nasdaq will continue to be “UAL.”

The reason for the change? Cost.


https://www.bizjournals.com/chicago/new ... yptr=yahoo


PepsiCo switched late last year from NYSE to Nasdaq citing cost as well....I'm definitely not an expert on stock exchange costs but this link suggests they can be substantial.

https://www.fool.com/investing/2017/12/ ... for-i.aspx

You'd think the exchange would make money off trades and would be happy to have the business there. It must not work how you'd think.
 
United1
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Sun Aug 26, 2018 11:23 pm

enilria wrote:
United1 wrote:
enilria wrote:
I've never seen a major company leave NYSE for NASDAQ without going through Ch11 or an LBO? I wonder how much of a cost savings this represents?

United Airlines said late Friday it is abandoning a longtime berth on the New York Stock Exchange and transferring its stock listing to the Nasdaq exchange, effective Sept. 7, the day the carrier’s stock begins trading on that platform.

The carrier said its stock listing on Nasdaq will continue to be “UAL.”

The reason for the change? Cost.


https://www.bizjournals.com/chicago/new ... yptr=yahoo


PepsiCo switched late last year from NYSE to Nasdaq citing cost as well....I'm definitely not an expert on stock exchange costs but this link suggests they can be substantial.

https://www.fool.com/investing/2017/12/ ... for-i.aspx

You'd think the exchange would make money off trades and would be happy to have the business there. It must not work how you'd think.


Yeah...very confusing.

I guess it's just a reminder that corporations pay fees, just as we do, when dealing with investments.
I know the voices in my head aren't real but sometimes their ideas are just awesome!!!
 
chrisp390
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Sun Aug 26, 2018 11:31 pm

American Airlines also cited cost when choosing NASDAQ for the merged entity. Makes you wonder what value other NYSE companies are getting from being there vs the NASDAQ.
 
UA444
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Sun Aug 26, 2018 11:52 pm

They were on the NYSE prior to Ch11, then re-emerged on NASDAQ as UAUA when getting out of BK and then went back to NYSE after acquiring CO.
 
c933103
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Mon Aug 27, 2018 12:16 am

Pepsi did the same move earlier this year.
Guess NASDAQ is now actively attracting companies from different sectors to join them?
When no other countries around the world is going to militarily stop China and its subordinate fom abusing its citizens within its national boundary, it is unreasonable to expect those abuse can be countered with purely peaceful means.
 
MrBretz
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Mon Aug 27, 2018 1:06 am

There are also some huge companies that have never left the NASDAQ like Amazon, Apple, Microsoft, Alphabet, etc. I don’t think it matters what exchange a stock trades on anymore. So if it costs UAL less to be there, great. Maybe they’ll save enough money to delete one row of seats from their planes and give us more legroom. I can always dream.
 
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enilria
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Mon Aug 27, 2018 1:12 am

United1 wrote:
enilria wrote:
United1 wrote:

PepsiCo switched late last year from NYSE to Nasdaq citing cost as well....I'm definitely not an expert on stock exchange costs but this link suggests they can be substantial.

https://www.fool.com/investing/2017/12/ ... for-i.aspx

You'd think the exchange would make money off trades and would be happy to have the business there. It must not work how you'd think.


Yeah...very confusing.

I guess it's just a reminder that corporations pay fees, just as we do, when dealing with investments.

You wonder if it's fees or NYSE has more reporting requirements which cost money, but provide investors more info.
 
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LAXintl
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Mon Aug 27, 2018 1:31 am

Also UAL will be a bigger fish at NASDAQ and be included in more investor funds.
Based on market cap they sit on cusp of to top-25 listing on NASDAQ. At NYSE only in top 75.
From the desert to the sea, to all of Southern California
 
MrBretz
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Mon Aug 27, 2018 1:38 am

I found this using google. I do not know if it is accurate.

“The entry fee a company can expect to pay on the NYSE is up to $500,000 while on the Nasdaq, it is only $50,000 to $75,000. Yearly listing fees are also a big factor: on the NYSE, they based on the number of shares of a listed security, and are capped at $500,000, while the Nasdaq fees come in at around $27,500.Apr 28, 2017.”

Many years ago, I worked for a midsize company that had become a large company. The CEO was very proud that the stock changed from being listed on the NASDAQ to the NYSE. It was at a time when only small companies were traded on the NASDAQ. Nowdays, the technological giants have remained on the NASDAQ. It is the SEC that regulates reporting, not the exchange.
 
United1
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Mon Aug 27, 2018 2:06 am

enilria wrote:
United1 wrote:
enilria wrote:
You'd think the exchange would make money off trades and would be happy to have the business there. It must not work how you'd think.


Yeah...very confusing.

I guess it's just a reminder that corporations pay fees, just as we do, when dealing with investments.

You wonder if it's fees or NYSE has more reporting requirements which cost money, but provide investors more info.


The SEC regulates reporting requirements not the exchanges. As someone who has had an interest in UA for 40 or so years can I say tend to be pretty transparent in what they do. If they say its because of fees...it's because of fees.
I know the voices in my head aren't real but sometimes their ideas are just awesome!!!
 
jbs2886
Posts: 2122
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Mon Aug 27, 2018 2:36 am

IMO this thread title really needs to be changed. While accurate, it’s misleading an implies no longer publicly traded when, in fact, it’s a simple swap of exchanges.
 
crownvic
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Mon Aug 27, 2018 2:54 am

General Electric (GE) did it as well in June.
 
MrBretz
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Mon Aug 27, 2018 5:10 am

Here's a link that describes other differences than those listed so far. We may have beaten this one to death. Sorry if that is so. It was a good question and I learned something.

https://www.businessinsider.com/heres-t ... yse-2017-7
 
B747forever
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Mon Aug 27, 2018 5:52 am

jbs2886 wrote:
IMO this thread title really needs to be changed. While accurate, it’s misleading an implies no longer publicly traded when, in fact, it’s a simple swap of exchanges.


I agree. That is what I thought first before opening the thread.
Work Hard, Fly Right
 
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enilria
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Mon Aug 27, 2018 1:11 pm

MrBretz wrote:
I found this using google. I do not know if it is accurate.

“The entry fee a company can expect to pay on the NYSE is up to $500,000 while on the Nasdaq, it is only $50,000 to $75,000. Yearly listing fees are also a big factor: on the NYSE, they based on the number of shares of a listed security, and are capped at $500,000, while the Nasdaq fees come in at around $27,500.Apr 28, 2017.”

[/quote
United1 wrote:
The SEC regulates reporting requirements not the exchanges. As someone who has had an interest in UA for 40 or so years can I say tend to be pretty transparent in what they do. If they say its because of fees...it's because of fees.

If you read the article you know they did not say it is because of fees. They said it was because of "costs". That implies there's something more then fees that makes it expensive, otherwise they should have said fees. Although, if it costs $500,000 then I'd say that's a lot more than $75,000...so that may be all there is to it.
 
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BN727227Ultra
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Re: United to move from New York Stock Exchange (NYSE) Listing to NASDAQ

Mon Aug 27, 2018 1:24 pm

enilria wrote:
I've never seen a major company leave NYSE for NASDAQ without going through Ch11 or an LBO? I wonder how much of a cost savings this represents?

United Airlines said late Friday it is abandoning a longtime berth on the New York Stock Exchange and transferring its stock listing to the Nasdaq exchange, effective Sept. 7, the day the carrier’s stock begins trading on that platform.

The carrier said its stock listing on Nasdaq will continue to be “UAL.”

The reason for the change? Cost.


https://www.bizjournals.com/chicago/new ... yptr=yahoo


I Think TD Ameritrade has wandered back and forth at least once.
 
DarthLobster
Posts: 350
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Mon Aug 27, 2018 1:39 pm

UA444 wrote:
They were on the NYSE prior to Ch11, then re-emerged on NASDAQ as UAUA when getting out of BK and then went back to NYSE after acquiring CO.


Funny to think of UA “acquiring” CO when it was really more like being demonically possessed.
 
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diverdave
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Mon Aug 27, 2018 1:51 pm

enilria wrote:
If you read the article you know they did not say it is because of fees. They said it was because of "costs". That implies there's something more then fees that makes it expensive, otherwise they should have said fees. Although, if it costs $500,000 then I'd say that's a lot more than $75,000...so that may be all there is to it.


Fiddling small change, half a million probably doesn't even pay for Oscar's security costs.
 
kiowa
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Mon Aug 27, 2018 2:08 pm

jbs2886 wrote:
IMO this thread title really needs to be changed. While accurate, it’s misleading an implies no longer publicly traded when, in fact, it’s a simple swap of exchanges.


Title looks fine to me. Thread is also very informative.
 
jbs2886
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Mon Aug 27, 2018 2:09 pm

kiowa wrote:
jbs2886 wrote:
IMO this thread title really needs to be changed. While accurate, it’s misleading an implies no longer publicly traded when, in fact, it’s a simple swap of exchanges.


Title looks fine to me. Thread is also very informative.


That's because the title has been edited.
 
MIflyer12
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Re: United to Remove New York Stock Exchange (NYSE) Listing

Mon Aug 27, 2018 2:13 pm

United1 wrote:
enilria wrote:
United1 wrote:

Yeah...very confusing.

I guess it's just a reminder that corporations pay fees, just as we do, when dealing with investments.

You wonder if it's fees or NYSE has more reporting requirements which cost money, but provide investors more info.


The SEC regulates reporting requirements not the exchanges.


There are Exchange listing requirements as well as SEC reporting requirements.
 
cledaybuck
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Re: United to move from New York Stock Exchange (NYSE) Listing to NASDAQ

Mon Aug 27, 2018 2:15 pm

I knew EWR wasn't really a NY airport :D :stirthepot:
As we celebrate mediocrity, all the boys upstairs want to see, how much you'll pay for what you used to get for free.
 
727200
Posts: 633
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Re: United to move from New York Stock Exchange (NYSE) Listing to NASDAQ

Mon Aug 27, 2018 2:41 pm

UA is what, a $40B company? The cost to be on the NYSE is a daily round up/down accounting error.
Has to do with being a bigger player on NASDAQ and the reporting required as a corporation.

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