NYSE American Sharpens Rules for Merger Trading Pauses
Published Date: 8/26/2026
Notice
Summary
NYSE American is updating its rules to make trading stops and starts clearer when big company events happen, like mergers or stock splits. This change helps traders know exactly when trading pauses and resumes, especially as markets move toward nearly all-day trading. It affects anyone trading on NYSE American and kicks in right away, aiming to keep things smooth and fair without extra costs.
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
New mandatory trading halts and timing
If you trade securities listed on NYSE American, the Exchange will impose mandatory regulatory halts for certain corporate actions after the Late Trading Session and before overnight trading begins at 9:00 p.m. ET on the day before the action's market-effective date. Trading in those securities will then resume with a Trading Halt Auction at 8:00 a.m. ET on the market-effective date under the Exchange's 23/5 Trading framework.
Expanded list of covered corporate actions
The Exchange will treat a set of corporate actions like reverse stock splits and apply the mandatory halt rule to them. The enumerated actions are: trading symbol changes; CUSIP changes; dividends equal to at least 25% of the Official Closing Price; forward and reverse stock splits; De-SPAC transactions; spin-offs; security-type changes; mergers or mandatory exchanges; and any other issuer-related event the Exchange determines requires a halt.
Reverse split reopening moved earlier
For securities halted for a reverse stock split, NYSE American will change the re-open time from 9:00 a.m. ET to 8:00 a.m. ET on the market-effective date. The Exchange says the earlier 8:00 a.m. ET reopening gives an extra hour for liquidity formation and price discovery before the 9:30 a.m. ET Core Opening Auction.
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