Arch Capital Group and Max Re are among some 1,200 companies that will be listed on the new Nasdaq Global Select Market tier next month.

Nasdaq, which is the largest electronic screen-based equity securities market in the United States, created the new tier to list public companies that ?meet the most stringent initial financial listing standards ever set by a stock market? with measures including market value, liquidity and earnings?, according to a bulletin released by Nasdaq. Qualifying companies make up approximately one third of Nasdaq listings.

Some 1,450 other companies will be listed on the Nasdaq Global Market, which has been renamed from the Nasdaq National Market to more accurately reflect the global leadership and international reach of the market and its listed companies.

The Nasdaq Capital Market will remain as is with approximately 550 companies. All three market tiers will maintain rigorous listing and corporate governance standards and have the opportunity to leverage an array of Nasdaq corporate services.

Nasdaq president and CEO Bob Greifeld said, ?Nasdaq companies are doing business on a global basis and we wanted to recognise that in the creation of our new listing tiers. We believe that the best quality companies will be attracted to the highest listing standards.?

The Nasdaq has received positive feedback from Nasdaq-listed companies about the creation of a blue chip market for blue chip companies, he said.

?CEOs recognise that high quality listing standards are linked to reputation and valuation. We are very pleased to have the opportunity to distinguish these companies, provide them with first-class services, and lead a race to the top for listings standards,? he said.

It was only recently that Max Re returned to good standing on the Nasdaq National Market. The company?s securities had been subject to delisting after it delayed filing first quarter earnings due to an incomplete internal investigation into finite reinsurance contracts sold between 2001 and 2003. It has since filed its earnings and is back in good standing with the market and yesterday Bruce Aust, Max Re?s executive vice president, corporate client group greeted the move to the new tier enthusiastically.

?Max Re is an example of an industry leader that has achieved superior listing standards, which clearly defines the essence of the NASDAQ Global Select Market,? he said in a statement.