New York Stock Exchange Pads Its Lead Over Nasdaq

Infosys is the latest company to switch between the rival exchanges
Traders on the floor of the New York Stock Exchange on Nov. 28, 2012 Photographer by Scott Eells/Bloomberg

NYSE Euronext, the parent company of the New York Stock Exchange, announced Friday that Indian technology giant Infosys would switch to its exchange from Nasdaq, calling it the 13th company to do so this year.

These headlines flash often, as the world’s two largest exchanges battle to snatch listings from each other. Each ticker won means additional revenue and a loftier reputation, good for attracting yet more listings and, especially, initial public offerings.

Nasdaq suffered this year’s most embarrassing exchange-related setback, when Facebook’s first day of trading suffered from technical problems. That incident bred rumors that Facebook would switch exchanges, but the tech giant has yet to move.

Here are the companies that moved from Nasdaq to NYSE Euronext in 2012, and their market cap as of Dec. 3:

  • Teva Pharmaceutical Industries, $35 billion
  • Infosys, $25 billion
  • TD Ameritrade Holding, $9 billion
  • On Assignment, $1 billion
  • Halcon Resources, $1 billion
  • Kaman, $950 million
  • Team Inc., $721 million
  • Berkshire Hills Bancorp, $570 million
  • Hercules Technology Growth Capital, $568 million
  • U.S. Physical Therapy, $320 million
  • KMG Chemicals, $209 million
  • Homeowners Choice, $199 million
  • Arabian American Development, $193 million

And here are the moves in the other direction, from NYSE Euronext to Nasdaq:

  • Kraft Foods Group, which split into two listings, Kraft, $27 billion, and Mondelez International, $46 billion
  • Texas Instruments, $33 billion
  • Analog Devices, $12 billion
  • Western Digital Corp., $8 billion
  • Antares Pharma, $500 million
  • Five Calamos Investments funds

NYSE Euronext, already the larger of the two exchanges, has the recent edge. Both parties, however, take issue with some of these listings. NYSE Euronext doesn’t think the Calamos fund switches should count, as their parent company had already been listed on the rival exchange. Nasdaq notes that it had a strong December 2011, with the addition of major tickers including Viacom, Wendy’s, and Sallie Mae.

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