The Nasdaq Stock Market has asked the Securities and Exchange Commission to extend the temporary suspension of some of its listing requirements for another three months.
A proposed rule change, filed Dec. 18, would extend until April 19, 2009, the current suspension of the bid price and market value of publicly held shares requirements for listing on the Nasdaq Stock Market. Those requirements had been suspended through Jan. 16, 2009, under an October rule filing by the exchange.
The filing notes that market conditions haven’t improved since the suspension began and both the number of securities trading below $1 and the number of securities trading between $1 and $2 on Nasdaq has increased.
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