The Securities and Exchange Commission (SEC) has approved a rule change proposed by The Nasdaq Stock Market LLC. This change modifies the complimentary service packages offered to companies that switch their listing to Nasdaq, known as "Eligible Switches." Now, companies with a market capitalization of $750 million or more will have access to additional services like the Annual Perception Study, alongside Stock Surveillance or Global Targeting tools, over a four-year period. The new rule also broadens the definition of "Eligible Switch" to include companies switching from any national securities exchange, not just the New York Stock Exchange (NYSE), which is designed to increase competition and bring more value to Nasdaq.
Simple Explanation
Nasdaq is going to give extra goodies to big companies that decide to switch and join them, and now they are saying any company can switch from other big stock places, not just one special one. This is like having more fun toys available if you move to a new, bigger playground.