Finance History | 11 Wall Street — MHFI Stopped and a Ratings Book Printed SPGI
· 2016-4
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Finance History | 11 Wall Street — MHFI Stopped and a Ratings Book Printed SPGI
kevin
People treat S and P Global as a New York ratings and index house that always printed SPGI after a finished New York book.
The April 2016 issuer was already public. The McGraw-Hill Companies had listed common stock on the New York Stock Exchange on 14 February 1929.
From the 1950s the tape used the letters MHP. From 14 May 2013 it used MHFI, after shareholders approved the McGraw Hill Financial name.
A company release dated 27 April 2016 recorded the next change. Shareholders had voted the S and P Global name, and the letters would become SPGI at the next open.
The Options Clearing Corporation memo of the same week said the underlying and the option symbol would both change at the opening of business on 28 April 2016. The CUSIP moved from 580645109 to 78409V104.
The present tape is SPGI on the New York Stock Exchange.
The mechanism is a ticker and name change on an existing listing, not a new sale of shares. The ratings, index, and data rooms kept the same Delaware issuer.
The pin is the public Broad Street facade of the 1903 New York Stock Exchange building, the street marker for the tape that now prints SPGI.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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