CSX to switch from NYSE to Nasdaq exchange

CSX Corp. will voluntarily transfer its stock exchange from the New York Stock Exchange to The Nasdaq Global Select Market effective Dec. 21 after the markets close, the company announced yesterday.

The company's common stock will continue to trade under its existing "CSX" symbol, CSX officials said in a press release.

"Moving to The Nasdaq Global Select Market provides new opportunities and synergies for CSX, and more closely aligns with the platform where most of our trading activity already takes place," said CSX Executive Vice President and Chief Financial Officer Frank Lonegro. "This decision is consistent with our commitment to reduce costs and uphold consistently high standards of corporate governance."

In a prepared statement, Nasdaq Executive Vice President of Listing Services Nelson Griggs said, "CSX Corp. is a critical player in the global supply chain and represents the type of growth-oriented and industry-defining companies that call Nasdaq home."