NEW YORK, Nov. 30, 2006 (PRIME NEWSWIRE) -- The Nasdaq Stock Market, Inc. (Nasdaq:NDAQ) today announced that the First Trust/Aberdeen Emerging Opportunity Fund (Nasdaq:FEO) (NYSE:FEO) has dual listed on NASDAQ.
"This dual-listing speaks to an increased recognition that NASDAQ's trading platform and its dedicated market maker structure are very well suited to closed end funds," said NASDAQ Executive Vice President Bruce Aust. "Investors in the funds can benefit from the key attributes of the NASDAQ market, which features faster speeds, greater cost efficiency, and greater certainty of execution. We are pleased that First Trust recognized these qualities when deciding to dual-list this financial product on NASDAQ."
On average, NASDAQ-listed closed-end funds are supported by 11 market makers. Specific market makers have been designated to trade closed-end funds because of their unique expertise with these financial products.
The First Trust/Aberdeen Emerging Opportunity Fund is a diversified closed-end management investment company organized as a Massachusetts business trust. The Fund's objective is to provide a high level of total return. The fund invests at least 80% of its managed assets in a diversified portfolio of equity and fixed-income securities of issuers in emerging market countries.
NASDAQ is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. For more information about NASDAQ, visit the NASDAQ Web site at http://www.nasdaq.com or the NASDAQ Newsroom at http://www.nasdaq.com/newsroom/.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about the closed-end fund, including the possible benefits of the fund. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ's control. These factors include, but are not limited to, factors detailed in NASDAQ's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
CONTACT: NASDAQ Media Contact: Wayne Lee (301) 978-4875