NYSE Tweaks 'Round Lot' Rules for Smoother Trading
Published Date: 12/10/2025
Notice
Summary
NYSE National just updated its rules to match a new government definition of a 'round lot'—basically, the standard number of shares you trade at once. This change affects traders using NYSE National and kicks in immediately, making sure everyone’s on the same page with the latest rules. No extra costs, just smoother trading starting now!
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Round-Lot Sizes Now Set by Share Price
If you trade NMS stocks on NYSE National, what counts as a "round lot" now depends on the stock's average closing price. Regulation NMS Rule 600(b)(93) sets: $250.00 or less = 100 shares; $250.01–$1,000.00 = 40 shares; $1,000.01–$10,000.00 = 10 shares; $10,000.01 or more = 1 share. The round lot definition was implemented on the first business day of November 2025.
NYSE National Updates Rule 7.5 Wording
NYSE National amended Rule 7.5 to replace the phrase "specified by the primary listing market" with wording that references the definition of "round lot" required by Regulation NMS. The Exchange states this change increases clarity and transparency so investors, regulators, and market participants can more easily understand the Exchange's trading unit rules.
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