The Nasdaq Stock Market has canceled plans to allocate special-character nomenclature to subordinate securities--preferred stock and warrants. The move, announced March 27, raises new questions about when, or even whether, U.S. equities and options exchanges will adopt a unified method for designating ticker symbols.
Battle lines have been drawn for the National Market System (NMS) symbology reservation plan, which first surfaced three years ago and is being reviewed by the Securities and Exchange Commission. The goal of the initiative is for the exchanges to establish solid policies for determining how symbols are assigned each time a new company lists.
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