CalPERS Praises Continuing Growth of Dual Listings at NASDAQ.Business Editors SACRAMENTO Sacramento, city, United States Sacramento (săkrəmĕn`tō), city (1990 pop. 369,365), state capital and seat of Sacramento co., central Calif. , Calif.--(BUSINESS WIRE)--April 7, 2004 Sean Harrigan, President of the California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). Public Employees' Retirement System (CalPERS) Board of Administration issued the following statement regarding today's announcement that a seventh company has agreed to dual list their stock shares on 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 stock exchange. "CalPERS continues to be encouraged by the growth of dual listing companies at NASDAQ. We commend com·mend tr.v. com·mend·ed, com·mend·ing, com·mends 1. To represent as worthy, qualified, or desirable; recommend. 2. To express approval of; praise. See Synonyms at praise. 3. American Financial Group for being the first major company in the insurance industry to take this step. "Their action and that of all who dual list make for a win-win for everyone: investors, the companies and the exchanges. For investors, it gives that much more choice when it comes to executing trades. For the companies, it is a way to demonstrate their responsiveness to their shareholders, and for the exchanges, it spawns healthy competition, which can only ensure greater transparency (1) The quality of being able to see through a material. The terms transparency and translucency are often used synonymously; however, transparent would technically mean "seeing through clear glass," while translucent would mean "seeing through frosted glass." See alpha blending. , efficiency and improved responsiveness to the exchange's ultimate customers -- the investor consumer." |
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