On May 10, 2019, the SEC approved the application by the Long-Term Stock Exchange for registration as a national securities exchange, authorizing it to operate a fully automated exchange platform for buying and selling equity securities, as well as to operate a primary listing market for equity issuers. Davis Polk advised LTSE on all aspects of the application and related regulatory matters.

LTSE’s mission is to promote long-term value creation, with a focus on helping companies build lasting businesses and empower long term-focused investors. LTSE seeks to build a market where companies are rewarded for choosing to innovate, to invest in their employees and to seed future growth.

The Davis Polk financial institutions team included partner Annette L. Nazareth, counsel Zachary J. Zweihorn and associates Mark A. Sater and Tyler X. Senackerib. Counsel Ning Chiu provided corporate governance advice. Members of the Davis Polk team are based in the Washington DC and New York offices.