(Bloomberg) –TD AmeritradeHolding Corp. will move its share listing to the Nasdaq Stock Market from the New York Stock Exchange.
The online broker expects to begin trading on Nasdaq Inc.s stock exchange on Dec. 14 under its ticker symbol, AMTD, the company said in a release Tuesday.
“We regularly review our many business relationships, and moving our shares to Nasdaq is the right thing for our business at this point in time,” Fred Tomczyk, outgoing chief executive officer ofTD Ameritrade, said in a statement. KimHillyer, a spokeswoman forTD Ameritrade, declined to elaborate on what led to the decision to move the shares from Intercontinental Exchange Inc.-owned NYSE to Nasdaq.
The listing change comes as Tomczyk announced he will retire on Sept. 30. He will be succeeded by Tim Hockey, head of Canadian banking and wealth management at Toronto-Dominion Bank, which owns about 40 percent ofTD Ameritrade, according to data compiled by Bloomberg. Before taking over Tomczyks role, Hockey will become President ofTD Ameritradeon Jan. 2, the company said.
