Schwab Exchange Identity Crisis (SCHW)

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By Douglas A. McIntyre Updated Published
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Charles Schwab Corp. (NASDAQ: SCHW) is changing its listing from the NASDAQ  to the New York Stock Exchange.  Technically, this is either again or back to it.  The company said that it expects to begin trading on the NYSE on March 5, 2010 under the same “SCHW” stock ticker and it will remain on NASDAQ until the transfer is complete.

If it sounds familiar, this is not the first exchange change from Schwab.  It used to trade as “SCH” on NYSE long ago.  If this feels like an identity crisis, it may actually be the case.  Discount brokerage firms, or the new term of electronic brokerage firms, have gone through an identity crisis as markets matured.  Is it an old discount brokerage firm with many steady accounts, or is it a growth engine for online trading?  It may just be both.

This news is more noise than news and the only good news here is that the stock ticker is at least not changing this time because both NASDAQ and the NYSE have changed their ticker requirements so that both allow for three-letter and four-letter stock tickers.

JON C. OGG

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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