The FINANCIAL -- The New York Stock Exchange, part of the Intercontinental Exchange global network of exchanges, today introduced an enhanced range of services for issuers on NYSE MKT, which exclusively serves small- to mid-cap growth companies.
NYSE MKT offers alternative listing standards, including reduced market capitalization and requirements. To support these small-to mid-cap companies, NYSE MKT is leveraging the New York Stock Exchange’s vast network of service and visibility to offer a full range of corporate services as part of a highly competitive listing fee.
According to Garvis Toler III, NYSE Global Head of Capital Markets, the new NYSE MKT services are part of NYSE’s commitment to supporting companies throughout every phase of their growth as a public company.
“In expanding our NYSE MKT services, we looked closely at the evolving needs of our NYSE MKT companies and those that are coming to market to redesign and deliver best-in-class services,” Toler said. “Our expanded services create unparalleled value for each listed company, their leadership team and shareholders. We’re proud to be the first U.S. exchange to offer a service package that specifically meets the needs of small to mid-cap companies.”
Timothy T. Goodnow, CEO of Senseonics, a medical technology company that listed on NYSE MKT in March said, “NYSE MKT is a unique platform that provides small-and mid-cap companies with the opportunity to take the next step in their development. Our listing on NYSE MKT represents both an important milestone and an important juncture in our growth story, and our ability to develop medical technology to help people with diabetes, according to Intercontinental Exchange.
“We are proud to begin our next chapter as a public company, and we are delighted to benefit from the expansive range of services that NYSE MKT provides,” Goodnow said.
One of the most compelling features of the enhanced services is a complete investor relations and governance services listing package that includes investor relations website hosting and webcasting services, press release distribution and regulatory disclosure solutions from Business Wire, NYSE Governance Services, and a whistleblower hotline. All of this is provided for the first two years following a company’s IPO.
Benefits of a NYSE MKT listing include:
A complete IR and NYSE Governance Services program to serve the needs of executives and their teams.
Access to NYSE’s cornerstone Designated Market Maker (DMM) model. DMMs have obligations to maintain fair and orderly markets for their assigned securities. They operate both manually and electronically to facilitate price discovery during market opens, closes and during periods of trading imbalances or instability. This high touch approach is crucial for offering the best prices, dampening volatility, adding liquidity and enhancing value -- all of particular importance for companies with a less liquid stock.
NYSE Connect - A value added service that delivers unprecedented access to exclusive information, data, insights, webinars on capital markets, corporate governance, economics and policy topics. It also provides varied perspectives from leading industry experts and NYSE senior executives, along with NYSE daily morning, midday, and end-of-day Market Reports.
Greater certainty over IPO pricing, timing and volume. The NYSE & NYSE MKT are the only platforms with an auction model that enables live and virtual dialogue between all IPO market participants to support a seamless transition to publicly traded securities.
Unmatched visibility as part of the network of the world’s most recognized and innovative companies. NYSE Group is home to the world’s best-known companies including American Express, Coca Cola, GE and Pfizer. It’s also the home to tech leaders like Fitbit, Go Daddy, Oracle and Twitter, with more than 50% of new tech listings choosing the NYSE Group each of the past three years, and 62% last year alone.
Ability to extend the company’s reach to investors, customers and the NYSE network of listed companies by accessing events and the NYSE’s trading floor where 30 major media outlets broadcast live every day, and through NYSE’s social media programs.