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The Nasdaq Stock Market has three different market tiers: Capital Market (small cap) is an equity market for companies that have relatively small levels of market capitalization. Listing requirements for such "small cap" companies are less stringent than for other Nasdaq markets that list larger companies with significantly higher market capitalization. Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market. The Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity requirements, and corporate governance standards. The Global Market is less exclusive than the Global Select Market. Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index made up of US-based and international stocks that represent the Global Select Market Composite. The Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial and liquidity requirements and corporate governance standards. The Global Select Market is more exclusive than the Global Market. Every October, the Nasdaq Listing Qualifications Department reviews the Global Market Composite to determine if any of its stocks have become eligible for listing on the Global Select Market.

On February 15, 2011, NYSE and Deutsche Brse announced their merger to form a new company, as yet unnamed, wherein Deutsche Brse shareholders will have 60% ownership of the new entity, and NYSE Euronext shareholders will have 40%. On February 1, 2012, the European Commission blocked the merger of NYSE with Deutsche Brse, after commissioner Joaquin Almunia stated that the merger "would have led to a near-monopoly in European financial derivatives worldwide." Instead, Deutsche Brse and NYSE will have to sell either their Eurex derivatives or LIFFE shares in order to not create a monopoly. On February 2, 2012, NYSE Euronext and Deutsche Brse agreed to scrap the merger. In April 2011, Intercontinental Exchange (ICE), an American futures exchange, and NASDAQ OMX Group had together made an unsolicited proposal to buy NYSE Euronext for approximately US$11,000,000,000, a deal in which NASDAQ would have taken control of the stock exchanges. NYSE Euronext rejected this offer twice, but it was finally terminated after the United States Department of Justice indicated their intention to block the deal due to antitrust concerns. In December 2012, ICE had proposed to buy NYSE Euronext in a stock swap with a valuation of $8 billion. NYSE Euronext shareholders would receive either $33.12 in cash, or $11.27 in cash and approximately a sixth of a share of ICE. The chairman and CEO of ICE, Jeffrey Sprecher, will retain those positions, but four members of the NYSE board of directors will be added to the ICE board.

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