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NYSE American Listing Requirements

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The NYSE American is a specific tier of the NYSE with its own listing requirements. The NYSE American used to be known as the American Stock Exchange (AMEX), until the New York Stock Exchange purchased the AMEX in its entirety in 2008. The NASADAQ and NYSE American are essentially business operations that compete for attention and publicly traded companies. The NYSE American claims that choosing their exchange increases a company?s access to dedicated funding, has greater advocacy and networking opportunities. While each exchange is governed by SEC regulations, there are also specific rules that apply to each exchange.

The NYSE American offers investor relations, broker-dealer networking, and marketing services, and uses the Designated Market Maker (DMM) model. Under this model, a DMM is assigned to each security, and then both manual and electronic methods are used to create a stable market price. The DMM is also used to create an auction model, where all bids are recorded in the marketplace, and an opening price of the assigned securities is set each day. The DMM essentially acts as an intermediary party between the broker and market participants and the execution of trades, and generally increases trading volume.

Initial Listing Standards

Companies must meet minimum listing requirements that include a specific financial liquidity and corporate governance criteria. NYSE American also maintains the right to deny an application if they believe it is necessary to protect investors, even if all of the technical requirements have been met. Typically, the NYSE American would reject an application for the nature of the company?s business, regulatory history and future projections, and reputation of management.

As one of the most prestigious exchanges to be listed on, the NYSE American affords its patron companies many opportunities not found elsewhere. To gain an initial listing, companies must meet one of the following standards:

Financial Standards	Standard 1	Standard 2	Standard 3	Standard 4a	Standard 4b
Pre-tax Income	$750,000	-	-	-	-
Market Cap	-	-	$50 million	$75 million	-
Total Assets and Total Revenue	-	-	-	-	$75 million
Market Value of Public Float	$3 million	$15 million	$15 million	$20 million	$20 million
Stockholders Equity	$4 million	$4 million	$4 million	-	-
Minimum Price	$3	$3	$2	$3	$3
Operating History	-	2 years	-	-	-

Companies are also required to meet one of the following standards:

Additional Requirements	Option 1	Option 2	Option 3
Public Shareholders	800	400	400
Public Float	500,000	1,000,000	500,000
Daily Trading Volume (6 months prior)	-	-	2,000 shares

Getting Listed

The NYSE American listing process is a streamlined process designed to help companies who qualify get listed as easily and painlessly as possible. Initial listing fees for qualified companies are as follows:

Market entry fees, based on the total number of shares outstanding at the time of initial listing, includes a non-refundable application fee. Entry fees are due before the first day of trading.

Entry fees for the three different tiers are listed below:

Total Shares Outstanding	Entry Fee
Less than 5,000,000 Shares	$50,000
5,000,000 to 10,000,000 Shares	$55,000
10,000,001 to 15,000,000 Shares	$60,000
In excess of 15,000,000 Shares	$70,000 ($75,000 as of January 1, 2013)

How to Apply

Getting listed on the NYSE American is a four-step process. The steps to getting listed in order are:

The NYSE will get back to you within 14 business to let you know if your application was accepted.

Get Started with your NYSE American Listing

If you would like help you getting started on your NYSE American listing, please complete this form below.

 

Benefits of the NYSE American

The biggest benefits to trading on an exchange, is it increases a company?s ability to attract investors and coverage. Stocks that are traded on an exchange typically have higher trading volume and liquidity. In addition, stocks that are traded on an exchange are exempt from the penny stock definition.

Colonial Stock Transfer can help your company get listed on the NYSE American, in addition to the transfer agent services we offer. To speak with a professional today or to learn more about our services, please contact us.