Merrill Lynch & Co. Inc. today announced plans to withdraw the listing of its common stock from NYSE Arca Inc., formerly the Pacific Exchange.
Merrill Lynch’s common stock will continue to be listed on the New York Stock Exchange. “Merrill Lynch has decided to withdraw its listing from NYSE Arca Inc. to streamline operations and eliminate duplicative administrative requirements inherent with dual listings as a result of the NYSE Group’s recent merger with Archipelago Holdings, the parent company of NYSE Arca,” it says, adding that the withdrawal is expected to be effective within the next month.
The firm says that it does not believe that withdrawing its listing from NYSE Arca will have any impact on the liquidity of its stock. NYSE Arca will continue to trade Merrill Lynch stock on an unlisted trading privilege basis.
Merrill Lynch to withdraw Pacific Exchange listing
- By: James Langton
- December 15, 2006 December 15, 2006
- 15:55