Full question:
If a company has a ticker symbol - lets say XY - who actually owns this ticker symbol. Is it the exchange or the company? The reason I am asking this is to determine if a company who has the ticker can reasonably prohibit another company from issuing press releases using that ticker. It’s not prohibited in our contracts - so I am wondering if they even can.
- Category: Copyrights
- Date:
- State: National
Answer:
Companies listing on the New York Stock Exchange must follow the requirements of the listing process, which generally include the company submitting draft SEC registration materials or other documentation for eligibility review. The company then is required to reserve a ticker symbol after the NYSE confirms the symbol’s availability. Once the company submits its application and the NYSE recognizes the same, the specialist selection process begins. The ticker symbol of a company is technically the property of the group of exchanges that uses the symbol, but is reserved by the company for the company’s use. If a company is in the process of reserving a symbol, but has not yet begun to use the symbol, another company may not be allowed to apply for and/or use that particular symbol until the same is released. Additionally, the reservation of a symbol does not typically infringe on any trademark rights to a similar symbol.
For specific questions regarding ticker symbols, you may wish to contact John Carey at the Office of General Counsel for the NYSE at 212-656-5640.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
