Select Market Maker Program
Overview
The Select Market Maker Program is designed to reward market makers that step up to provide liquidity at the National Best Bid and Offer (NBBO), assuring successful price formation and market stability. Companies will be able to see a list of the firms that achieve “Select” status as a market maker in their own stock. This Select Market Maker designation will provide firms with additional marketing opportunities aimed directly at CEOs, CFOs and Investor Relations executives.
The Select Market Maker designations are available to both NASDAQ and non-NASDAQ listed companies. Designations are not available to investors and are not disseminated through any public quote feeds. A firm must be a registered market maker in the given stock to qualify.
Program Details
The Select Market Maker Program is designed to reward the most important factor in market stability: aggressive quoting that meets or sets the NBBO. Market makers achieve “Select” status based on the previous month’s performance on a stock-by-stock basis. The Select Market Maker designation is based on the criteria below.
Securities are split into two tiers based on their Average Daily Volume (ADV) as follows:
| Tier 1 | Tier 2 | |
|---|---|---|
| Securities with ADV less than 1,000,000 shares | Securities with ADV more than 1,000,000 shares | |
| Anonymous and Attributable Quotes and Orders | Displayed order at the NBBO at least 15% of the time | Displayed order at the NBBO at least 10% of the time |
Benefits and Features
Firms designated as Select Market Makers benefit from increased issuer community visibility through NASDAQ Online, the NASDAQ Market Intelligence Desk and NASDAQ sponsored events.
The NASDAQ Online
NASDAQ Online is the private proprietary, investor relations tool that highlights and disseminates Select Market Maker designations to issuers. NOL has 28,000 registered users with 11,000 unique users visiting the site each month. The Select Market Maker page is frequently accessed by the CEOs, CFOs and IR executives of over 3,000 NASDAQ listed companies — making it one of the most popular pages on NOL.
NASDAQ Market Intelligence Desk
The NASDAQ Market Intelligence Desk serves as a central contact point for public companies — providing daily trading insight to executives of NASDAQ-listed issuers. The desk serves as a conduit between Select Market Makers and listed companies by facilitating timely conversations in conjunction with specific events (e.g., heavy trading days, persistent trends, big blocks, earnings releases).
Through the Market Intelligence Desk, NASDAQ also offers the Corporate Direct Program, which leverages our existing relationships with the brokerage community to bring together NASDAQ-listed companies with market makers that are interested in hosting issuer meetings with institutional investors.
NASDAQ Events
NASDAQ sponsors various events attended by CEOs, CFOs and Investor Relations executives from NASDAQ-listed companies. NASDAQ-sponsored and industry events to which Select Market Makers would be invited include:
- NASDAQ investor relations conferences — NASDAQ hosts regional, national and international IR conferences.
- Regional roundtables — NASDAQ hosts CEO/CFO events based on current industry topics (e.g., SOX, option expensing and executive compensation).
- National Investor Relations Institute (NIRI) events — This organization hosts both national and regional events.
For more information on the Select Market Makers Program, contact NASDAQ Market Sales at +1 800 846 0477.
Additional Resources
Contact Information
- NASDAQ Market Sales at +1 800 846 0477
- NASDAQ Subscriber Services at +1 212 231 5180
FREE
NASDAQ Intraday and Post-Close Crosses
|
"We appreciate the relationship that our NASDAQ Market Intelligence Desk has with the Select Market Makers. During the market turmoil [in the summer of 2007] these relationships helped us better understand our company’s market fluctuations based on real-time information from the trading desks. This program has given us new insights into how our stock trades that we didn’t have before." Brian Peura |
