BP Withdraws Pacific Exchange Listing, Retains NYSE Listing
BP (NYSE: BP) plans to withdraw the listing of its American Depositary Shares from NYSE Arca, Inc., formerly the Pacific Exchange. BP's American Depositary Shares will continue to be listed on the New York Stock Exchange.
BP has decided to withdraw its listing from NYSE Arca, Inc. to streamline operations and eliminate duplicative administrative requirements inherent with dual listings as a result of the NYSE Group's merger with Archipelago Holdings, the parent company of NYSE Arca. The withdrawal is expected to be effective within the next month.
BP does not believe that withdrawing its listing from NYSE Arca, Inc. will have any impact on the liquidity of its stock. NYSE Arca will continue to trade BP American Depositary Shares on an unlisted trading privilege basis.
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