The Nasdaq Stock Market Inc. announced today that it filed the initial listing standards for its new Nasdaq Global Select Market with the U.S. Securities and Exchange Commission.

Nasdaq says that the standards will have financial and liquidity requirements that are higher than those of any other market in the world. In addition, the new tier will incorporate Nasdaq’s world-class corporate governance standards. No further regulatory action is required for the new market to begin operations.

It expects to implement Nasdaq Global Select on July 1. Once implemented, it will offer three market tiers for the first time. More than 1,000 Nasdaq companies currently qualify for the new tier.

In addition to the Nasdaq Global Select Market, it will offer the Nasdaq Global Market (the new name for the Nasdaq National Market) and the Nasdaq Capital Market (formerly the Nasdaq Small Cap Market).

Under the new structure, it is estimated that approximately 1,650 companies will meet the standards for the Global Market and that 550 companies will qualify for the Capital Market.

The continued listing standards will be the same for the Global Select and the Global Markets. Nasdaq will continue to calculate and disseminate the Nasdaq Composite index, and it will launch indices based on the two new tiers, ensuring that each market tier will have an index.