ACL Joins New NASDAQ Global Select Market
American Commercial Lines Inc. announced that it has recently been added to the Russell 2000 Index and the NASDAQ Global Select Market. For ACL, membership in the Russell 2000 which remains in place for one year, includes automatic inclusion into the Russell 3000 Index as well as the appropriate growth and style indexes. Russell determines membership for its equity indexes primarily by objective, market capitalization rankings and style attributes.ACL was also added to the new NASDAQ Global Select Market. The NASDAQ Global Select Market has the highest initial listing standards of any exchange in the world based on financial and liquidity requirements. Prior to the change, the company had been listed on the NASDAQ National Market.
As of July 3, 2006 NASDAQ-listed companies were classified under three listing tiers -- NASDAQ Global Select Market, NASDAQ Global Market, and NASDAQ Capital Market. NASDAQ also plans to launch indexes based on these new tiers.