The shares of 470 companies have been de-listed from the RASDAQ since the beginning of the month, due to having entered bankruptcy proceedings. Furthermore, in the upcoming period, another 110-120 companies are to be withdrawn from trading for the same reason. As a result, the number of companies trading on the RASDAQ will drop to 2,500, almost half as many as four years ago. Of the companies left on the market, about 1,400 are tradable, with just a small number of these traded on a regular basis. Eventually, only a small number will remain on the regulated market of the Stock Exchange, which will be the main stock market. Companies that do not meet the criteria for listing on the main market are to be traded on an alternative trading system (ATS), with less strict regulations. The decision by the CNVM (National Securities Commission) to de-list companies is based on regulations pertaining to the capital market and to the law on insolvency proceedings.
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