NEW YORK Jan 19 The New York Stock Exchange has
waived the first partial year of annual listing fees for
companies that transfer their stock to the Big Board from
another exchange, a move that could help it poach more companies
from rival Nasdaq.
Companies that currently list on the NYSE have to pay a
pro-rated annual fee when they switch from Nasdaq, said NYSE,
which is owned by Intercontinental Exchange Inc, in a
filing with the U.S. Securities and Exchange Commission dated
The market for listings is fiercely competitive, from
courting initial public offerings, such as the highly
anticipated IPO of Snapchat parent Snap Inc, to luring firms
from rival exchanges, both of which can be huge public relations
Currently, only NYSE and Nasdaq list the shares of other
companies, while Bats Global Markets lists only its own
stock, preferring to focus on exchange-traded products such as
exchange-traded funds and notes. IEX Group, the newest U.S.
stock exchange, has said it plans to begin competing for
corporate listings this year.
NYSE noted that companies transferring in mid-year will
already have paid annual listing fees to the exchange on which
they were previously listed.
The "double payment the exchange's prorated annual fee
imposes on them imposes a significant financial burden and acts
as a disincentive to transferring," NYSE said.
Listing fees vary depending on the size of the company, the
number of shares listed, and the exchange they list on, among
In 2015, NYSE earned $405 million in revenue from listings,
while Nasdaq made in $264 million in listings services revenue.
(Reporting by John McCrank; Editing by Bernadette Baum)