Cadence to List Stock on Both NASDAQ and NYSE; New Initiative Means More Choices for Investors, Greater Liquidity.Business Editors SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 12, 2004 Cadence Design Systems (company) Cadence Design Systems - A company that sells electronic design automation software and services. http://cadence.com/. See also Verilog. , Inc. (NYSE NYSE See: New York Stock Exchange :CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. ) has joined an initiative that will enable it to list its stock on both the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on and the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (NYSE). Cadence(R), a long-standing member of the NYSE, joins five other market leaders in launching the initiative, announced by the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. this morning. The five other companies are Apache Corporation (NYSE:APA (All Points Addressable) Refers to an array (bitmapped screen, matrix, etc.) in which all bits or cells can be individually manipulated. APA - Application Portability Architecture ), Charles Schwab (NYSE:SCH), Countrywide Financial (NYSE:CFC), Hewlett-Packard (NYSE:HPQ) and Walgreens (NYSE:WAG). The dual listing will provide two immediate benefits: more choices for Cadence investors, and greater liquidity for the stock. "Dual listing will benefit the entire Cadence community -- investors, customers, and the company itself," said Ray Bingham, president and chief executive officer of Cadence. "This is an innovative program that recognizes the realities of today's trading environments, which demand more choices and greater efficiencies." Cadence expects the dual listing to be effective within the month. The company's common stock will continue to trade on all markets under the same three-letter symbol (CDN). About Cadence Cadence is the largest supplier of electronic design technologies, methodology services, and design services. Cadence solutions are used to accelerate and manage the design of semiconductors, computer systems, networking and telecommunications equipment, consumer electronics, and a variety of other electronics based products. With approximately 4,800 employees and 2002 revenues of approximately $1.3 billion, Cadence has sales offices, design centers, and research facilities around the world. The company is headquartered in San Jose, Calif., and traded on the New York Stock Exchange under the symbol CDN. More information about the company, its products and services is available at www.cadence.com. Cadence and the Cadence logo are registered trademarks of Cadence Design Systems, Inc. All other trademarks are properties of their respective holders. |
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