CIMdata PLM Industry Summary Online Archive
October 26, 2004
Financial News
Cadence to List Solely On NASDAQ Under New Symbol 'CDNS'; Trading to Commence Oct. 31, 2005
Cadence Design Systems, Inc. announced that it will list its common stock solely on the NASDAQ National Market and discontinue the company's dual listing with the NYSE. The stock will cease trading under the symbol CDN on both the NYSE and NASDAQ on Oct. 28, 2005 and begin trading on NASDAQ under the new symbol CDNS at market open Oct. 31, 2005.
Bill Porter, Cadence®senior vice president and chief financial officer, commented, "Cadence's experience with being dual listed gave us an opportunity to compare the relative benefits of both marketplaces. After careful analysis, we determined that the NASDAQ electronic trading platform is the preferred marketplace for many of the institutional investors trading Cadence shares."
"Cadence and NASDAQ share a vision of using technology to innovate and enable business," said Bob Greifeld, NASDAQ president and CEO. "Cadence is a natural fit for NASDAQ, the recognized leader in listing industry-defining companies."
Mike Fister, president and CEO of Cadence Design Systems, Inc., concluded by observing, "NASDAQ has been a successful platform for many innovative, growing technology companies. We believe that our association with NASDAQ will afford us an opportunity to reinforce our position as a technology and market leader."
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