The Nasdaq Stock Market has three distinctive tiers: The Nasdaq Global Select Market®, The Nasdaq Global Market® and The Nasdaq Capital Market®.
Applicants must satisfy certain financial, liquidity and corporate governance requirements to be approved for listing on any of these market tiers. The initial financial and liquidity requirements for the Nasdaq Global Select Market are more stringent than those for the Nasdaq Global Market and likewise, the initial listing requirements for the Nasdaq Global Market are more stringent than those for the Nasdaq Capital Market.
Corporate governance requirements are the same across all Nasdaq market tiers. It is important to note that even though a company’s securities meet all enumerated criteria for initial inclusion, Nasdaq may deny initial listing, or apply additional conditions, if necessary to protect investors and the public interest.
U.S. Market Tiers
Nasdaq Global Select Market
The Nasdaq Global Select Market has the highest initial listing standards of any exchange in the world. It is a mark of achievement and stature for qualified companies.
Nasdaq Global Market
The Nasdaq Global Market lists companies with an overall global leadership and international reach with their products or services.
Nasdaq Capital Market
Nasdaq Capital Markets are focused on its core purpose for those companies listed -- capital raising.