Countrywide to Delist from NYSE Arca
Countrywide Financial Corporation today announced plans to withdraw the listing of its common stock from NYSE Arca, Inc., formerly the Pacific Exchange. Countrywide Financial Corporation's common stock will continue to be listed on the New York Stock Exchange. Countrywide Financial Corporation said it had decided to withdraw its listing from NYSE Arca, Inc. to eliminate duplicative administrative requirements inherent with dual listings as a result of the NYSE Group's recent merger with Archipelago Holdings, the parent company of NYSE Arca, Inc. The withdrawal is expected to be effective by year-end 2006. In a statement, Countrywide Financial Corporation said it does not believe that withdrawing its listing from NYSE Arca, Inc. will have any impact on the liquidity of its stock. NYSE Arca, Inc. will continue to trade Countrywide Financial Corporation stock on an unlisted trading privilege basis. Countrywide's move follows Fannie Mae's announcement last week of its intention to similarly delist from the NYSE Arca/Pacific.