NYSE American Strengthens Rules for Listed Companies
Published Date: 12/17/2025
Notice
Summary
NYSE American wants to update its rules so companies must keep a certain size and stock price to stay listed. This affects companies trading on the Exchange, making sure only strong players stick around. The change kicks in after review and aims to keep the market healthy without extra costs for companies.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 2 costs, 1 mixed.
New $5M Market Cap Delisting Threshold
If a company's average global market capitalization over a consecutive 30 trading-day period is less than $5,000,000, the Exchange will immediately suspend trading and commence delisting. A company that falls below this $5,000,000 threshold will not be eligible to submit a compliance plan under Section 1009 to try to regain listing status.
Minimum $0.25 Trading Price Rule
If a security's close price per share is less than $0.25 on any trading day, the Exchange will immediately suspend trading and begin delisting proceedings. The Exchange proposes this Minimum Trading Price requirement to take effect October 1, 2026, and a security that closes below $0.25 will not be eligible to submit a Section 1009 compliance plan.
Authority to Suspend for Precipitous Decline
The Exchange may suspend trading in a security that has experienced a precipitous decline and is at an abnormally low level even if the security has not closed below the $0.25 Minimum Trading Price. The change clarifies the Exchange's existing authority to suspend trading under such conditions.
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Previous: 2025-23074, Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule Change To Amend Section 802.01C of the NYSE Listed Company Manual
The New York Stock Exchange (NYSE) wants to update its rules to make sure companies keep a minimum share price to stay listed. This change affects all companies listed on the NYSE and aims to keep the market strong and fair. The rule update was proposed in December 2025 and could impact companies that don’t meet the new price standards.
Next: 2025-23076, Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt Fees for the Trades and Spread Feeds
Starting January 1, 2026, Nasdaq PHLX LLC will charge fees for two new data feeds called the Trades Feed and the Spread Feed. These fees affect traders and firms who use this market data to make decisions. The change is already approved and aims to help the exchange cover costs while keeping the data flowing smoothly.