Credit Suisse announced that it is moving 12 of its VelocityShares exchange traded notes (ETNs) to the NASDAQ Stock Market from the New York Stock Exchange in a cost-saving move.
“Credit Suisse intends to transfer these listings from NYSE Arca to The NASDAQ Stock Market for greater cost efficiencies. Subject to the approval by The NASDAQ Stock Market of the listing applications, Credit Suisse expects that the ETNs will begin trading on The NASDAQ Stock Market on December 2, 2013,” according to a statement issued by Credit Suisse.
“The ETNs are expected to continue to trade on NYSE Arca on a listed basis until the transfer is completed. Following the transfer, each series of the transferred ETNs will retain the same CUSIP, exchange ticker symbol and indicative value ticker symbol.”
The ETNs affected by the move can be seen in the table below.
ETF Trends editorial team contributed to this post.
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