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Nasdaq OMX Group said on Tuesday it has extended until the end of July the suspension of its requirement that stocks on its U.S. exchange trade for at least $1.
Nasdaq first suspended its minimum-price requirement in October when many companies faced delisting as stocks plunged. The suspension was slated to expire on July 19.
On June 30, rival exchange operator NYSE Euronext [NYX
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], which runs the New York Stock Exchange, said it would extend the suspension of its own $1 minimum rule through July 31. The $1 minimum rule will be reinstated as of Aug. 3 on both exchanges.
NYSE Euronext initially suspended its $1 minimum rule in February, when it also extended a temporary rule that had lowered minimum market capitalization to $15 million from $25 million.
The company said at the time the move would help keep more than 50 companies' shares on the Big Board.
NYSE has since made the lower market capitalization requirement permanent.
Nasdaq OMX [NDAQ
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] and NYSE Euronext derive between 10 percent and 15 percent of their revenues from listings.
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Data is a real-time snapshot *Data is delayed at least 15 minutes