Finance History | Nasdaq MarketSite — PEP Left the Big Board and Opened on Nasdaq
· 2017-12
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Finance History | Nasdaq MarketSite — PEP Left the Big Board and Opened on Nasdaq
kevin
People treat PepsiCo as a Purchase snack-and-soda house that always printed PEP after a finished Nasdaq book.
The December 2017 issuer was PepsiCo, Inc., the company formed in 1965 when Pepsi-Cola merged with Frito-Lay.
A company press release dated 8 December 2017, and the Form 8-K filed the next day, record that the board withdrew the principal listing from the New York Stock Exchange after the close on 19 December 2017.
Trading was to begin on the Nasdaq Global Select Market at the open on 20 December 2017 under the same letters PEP.
Nasdaq described the transfer as then the largest company by market capitalization to switch its listing onto that market.
The present tape is still PEP on the Nasdaq Stock Market.
The mechanism is an exchange transfer. An already-listed consumer book left the Big Board floor and kept the same three letters on an electronic tape.
The pin is the public Times Square facade of Nasdaq MarketSite, the present street marker for the tape that has printed PEP.
Interior trading is not visitable from the sidewalk.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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