| April 4
April 4 Rivals NYSE Euronext and Nasdaq
OMX Group Inc both claim that to have listed the most
global initial public offerings during the first quarter of
2013, while Thomson Reuters' data shows the two exchange
operators as being tied.
The differences come down to arguments over how to account
for or define initial public offerings.
In a statement on Thursday, Nasdaq said it had topped U.S.
exchanges in IPOs with 18 listings, including cruise line
operator Norwegian Cruise Line Holdings Ltd,
communications company West Corp and money transfer
services provider Xoom Corp.
Nasdaq said the New York Stock Exchange, owned by NYSE
Euronext, had just 16.
By its definition of IPO, Nasdaq said it includes real
estate investment trusts, spin-offs and deals known as "best
efforts," where the underwriter does not firmly commit to
In response, a NYSE spokeswoman e-mailed journalists to
counter what it characterized as "incorrect data regarding the
U.S. IPO market" contained in the Nasdaq statement.
The New York Stock Exchange operator said that by its method
of measuring IPOs - which includes traditional IPOs, REITs and
closed-end funds - it had 25 listings compared to only 17 for
Nasdaq. NYSE also said it relies on Dealogic and Ipreo for its
But the outcome of the battle this quarter may have ended
without a clear win for either exchange.
According to Thomson Reuters data - which considers
traditional IPOs, spin-offs and REITs, but not blank check
companies - both NYSE and Nasdaq ended the first quarter with 16
Traditionally, Nasdaq had a lock on technology company
listings, and NYSE on blue-chip stocks, but both have made
inroads into each others' respective territories in recent
The turf war for marquee tech names heated up last year
ahead of Facebook's long-awaited IPO, with the CEOs of
both exchanges reportedly flying to California to woo the
management of the social network.