Finance History | Nasdaq MarketSite — ADP Left the Big Board on 21 October 2008
· 2008-10
Personal memoryBy kevin · · Report an issue
Find memories left by people near you.
Distribute Bounty
This will distribute the bounty equally among all qualifying memories. This action cannot be undone.
Cancel Bounty
Are you sure you want to cancel this bounty? The remaining amount will be refunded to your account.
Success!
Operation completed successfully.
Error
Something went wrong.
Finance History | Nasdaq MarketSite — ADP Left the Big Board on 21 October 2008
kevin
People treat Automatic Data Processing as a Roseland payroll house that always printed ADP on Nasdaq.
The letters spent 47 years on the other tape first.
Company histories record that Automatic Payrolls was renamed Automatic Data Processing in 1961 and completed a New York Stock Exchange offering the same year.
On 26 September 2008 the company filed an 8-K stating that its board had approved a transfer to the Nasdaq Global Select Market and that it expected to cease New York trading after 20 October 2008.
The attached press release, dated the same day from Roseland, said Nasdaq trading under ADP would begin on 21 October 2008.
The ticker did not change. The venue did.
ADP then reported nearly 9 billion dollars of revenue in 2008 currency and more than 585,000 clients.
The mechanism is a voluntary exchange move by a large, already-listed processor, not a new issue and not a distress delisting.
A name that had printed on the Big Board since 1961 simply walked its book to Nasdaq in the middle of a crisis year and kept the same three letters.
Nasdaq MarketSite at 4 Times Square is the public facade of the market that received the book. Interior studios are not a visitor floor.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
changes?
delete this memory?
We detected that you have a Blox in your crypto wallet! We will import the Blox into your account.
Click on done below to complete the import.
Welcome Back!
Sign in to preserve cherished moments
Don't have an account?
Welcome!!
Sign up and start preserving cherished moments
?
?
Choose your payment method
Buy with Metablox Credit
Do you want to mint Blox with Metablox Credit?
Which Crypto would you like to use?
Purchase Confirmed!
Your Blox is being minted on-chain and will appear in your profile shortly.
Log in or sign up to claim your Blox.
How many credits do you want to buy?
$100 USD = 1 Metablox Credit = 1 Blox.
Use Metablox Credit to mint any Blox you want on the map.
expand_more