| NASDAQ OMX Commemorates Its 20-Year Anniversary in Silicon Valley |
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11/03/2010 15:04 (702 Day 21:02 minutes ago) | |||||
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The FINANCIAL -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) will celebrate the 20-year anniversary of its presence in California's Silicon Valley on Tuesday, March 16, 2010.
To mark the milestone, NASDAQ OMX will host several events including remote Opening and Closing Bell ceremonies from San Jose City Hall, and a press briefing to discuss NASDAQ OMX's initiatives, prospects for the valley and its IPO market. During the remote Closing Bell ceremony, San Jose Mayor Chuck Reed will deliver a proclamation naming March 16, 2010 "NASDAQ Day" in honor of the exchange company's significance to Silicon Valley and its role in supporting economic growth over the last 20 years and in the future. In 1990, NASDAQ OMX established its office in Palo Alto, and it is currently based on Sand Hill Road in Menlo Park, California.
Bruce Aust, Executive Vice President, Global Corporate Client Group, NASDAQ OMX, commented, "We are proud that NASDAQ OMX established a presence in the Valley when many of today's major office parks were still fruit orchards. We are also proud to have served as the capital formation engine for so many Valley companies who have truly changed the world. The Silicon Valley area is a unique eco-system that cities all over the world have tried to emulate, and we will continue to play an important role in that growth well into the future."
With 513 listed companies from California and 203 companies from Silicon Valley listed on The NASDAQ Stock Market, the world's largest exchange company has also seen increased listings momentum through IPOs and listing applications since the second half of 2009. Since 2009, NASDAQ OMX has won 41 IPOs that have raised $8.3 billion. Currently the exchange has 102 listing applications in the pipeline from sectors including biotech, technology, and social media. There are 28 companies in Silicon Valley that are part of the NASDAQ-100 index, seven of which are headquartered in San Jose.
Mark Heesen, President of the National Venture Capital Association said, "Over the last 20 years the venture capital industry and NASDAQ have brought to the public markets some of the most exciting and value-added companies trading today. The resulting job creation and innovation have proven to be a tremendous source of economic growth for Silicon Valley and the country. We look forward to working with entrepreneurs to bring more emerging growth companies public on NASDAQ for the next 20 years and beyond."
NASDAQ OMX continues to attract switches from the NYSE Group with a total of 24 companies transferring to NASDAQ in 2009. These companies have a total value of over $157 billion and include Mattel Inc., R&R Donnelly & Sons, and Dreamworks Animation. Of the 24, five of the switch companies in 2009 were from California.
From 2000-2003, Bruce Aust served as head of NASDAQ OMX's West Coast region. Aust had been based on the West Coast since 1988. During his time at NASDAQ, he was responsible for oversight of all NASDAQ-listed companies in the Western Region, representing 60 percent of the market capitalization on NASDAQ. Marianne Baldrica is currently the head of the company's West Coast region.
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