2025-22397Notice

NYSE Tweaks Short Sale Rules: Yawn-Worthy Finance Update

Published Date: 12/10/2025

Notice

Summary

NYSE American is updating its rules to match new reporting requirements about certain stock sales called short sales. This change affects broker-dealers who must now report if a market maker claims a special exception when selling stocks short. The update takes effect immediately and helps keep trading data clear and accurate without extra costs.

Analyzed Economic Effects

2 provisions identified: 0 benefits, 2 costs, 0 mixed.

Market-Maker Short-Sale Reporting Requirement

If you are an Industry Member (a broker-dealer that trades equity securities), Rule 6830 now requires you to record and report to the Consolidated Audit Trail (CAT) whether the original receipt or origination of an order to sell is a short sale for which a market maker is claiming the bona fide market making (BFMM) locate exception under Rule 203(b)(2)(iii) of Regulation SHO. This change implements the CAT NMS Plan amendment and was filed on December 2, 2025.

Rule Becomes Operative Immediately

The Exchange filed the proposed amendment on December 2, 2025, and the Commission designated the rule change to be operative upon filing, so the Compliance Rule amendment took effect immediately upon filing. Industry Members subject to Rule 6830 should expect the reporting requirement to be effective immediately following that filing date.

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Key Dates

Effective Date
Published Date
12/2/2025
12/10/2025

Department and Agencies

Department
Independent Agency
Agency
Securities and Exchange Commission
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