Niederauer Says NYSE Has Best Listing Backlog of His Tenure
The group of companies that plan to list their shares on the New York Stock Exchange is the best it’s been in at least four years, according to NYSE Euronext Chief Executive Officer Duncan Niederauer.
The backlog "is the best I’ve seen it in my tenure,’’ Niederauer, who joined NYSE in early 2007, said in a presentation at a Goldman Sachs Group Inc. conference in New York. The list is a “much better mix,” he said, adding that the companies range from large to small and U.S.-based to international.
Niederauer also said the 14th company of the year will switch its listing to NYSE from the Nasdaq Stock Market. NYSE, the biggest operator of U.S. stock exchanges, competes solely with Nasdaq OMX Group Inc. for listings in the U.S.
NYSE, which is aiming for $1 billion of sales from technology services by 2015, plans for growth of at least 10 percent in that revenue group in each of the next five years as it expands organically and by buying companies. Niederauer said next year’s rate is already set for more than 10 percent without acquisitions.
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