NYSE Listing Requirements


The New York Stock Exchange (abbreviated as NYSE) is currently the world's most sizable stock exchange, as measured by the market capitalization of its registered companies. In addition to being the world's largest stock exchange, the NYSE is also the oldest stock exchange in the U.S., originating on Wall Street during the financial center’s formative years in the 1800’s. With hundreds of billions of USD trading on the exchange everyday, and many famous celebrities having been invited to ring the opening bell, the NYSE is one of the most widely known and prestigious stock exchanges for a company to get listed on.

The NYSE’s normal trading hours are between 9:30am and 4:00pm Eastern Time, Monday through Friday. The NYSE closes trading on holidays that are announced in advance.

The NYSE has both initial listing standards and continued listing standards. The standards are as follows:

Initial Listing Standards

Firms are required to meet one of the following financial standards:

Financial Standards

I: Earnings Test Rule 102.01C(I)

II: Global Market Capitalization Test Rule 102.01C(II)

Real Estate Investment Trusts Rule 102.05

Closed-end Management Investment Companies Rule 102.04A

Business Development Companies Rule 102.04B

Adjusted Pre-tax Income

Aggregate for last three fiscal years >= $10mm; Each of the two most recent fiscal years >= $2mm; Each of the prior three fiscal years >$0

-

-

-

-

Global Market Cap

-

$200 million

-

-

$75 million

Stockholders’ Equity

-

-

$60 million

-

-

Market Value of Publicly Held Shares

See chart below

See chart below

See chart below

$60 million

$60 million

Firms are required to meet all of the following distribution standards:

Distribution Standards Rule 102.01A-B

IPOs, Spin-offs, Carve-outs

Transfer or Quotation

All other listings

Shareholders

400 round lot

400 round lot

2,200 round lot

500 round lot

400 round lot

Publicly held shares

1.1 million

1.1 million

1.1 million

1.1 million

1.1 million

Market Value of Publicly Held Shares

$40 million

$100 million

$100 million

$100 million

$100 million

Minimum Share Price

$4.00

$4.00

$4.00

$4.00

$4.00

Average Monthly Trading Volume (Shares)

 

100,000

100,000

100,000

 


Continued Listing Standards

The Exchange would normally give consideration to the prompt initiation of suspension and delisting procedures with respect to a security of either a domestic or non-US issuer when:

802.01A Distribution Criteria for Capital or Common Stock (including Equity Investment Tracking Stock).

  • Number of total stockholders (A) is less than 400

OR

  • Number of total stockholders (A) is less than 1,200 and
  • Average monthly trading volume is less than 100,000 shares (for most recent 12 months)

OR

  • Number of publicly-held shares (B) is less than 600,000 (C)
  • (A) The number of beneficial holders of stock held in the name of Exchange member organizations will be considered in addition to holders of record.
  • (B) Shares held by directors, officers, or their immediate families and other concentrated holdings of 10% or more are excluded in calculating the number of publicly-held shares.
  • (C) If the unit of trading is less than 100 shares, the requirement relating to the number of shares publicly held shall be reduced proportionately.

For the full initial listing standards manual, please click here.

For the full continued listing standards manual, please click here.

Listing Fees:

The NYSE charges two types of fees; Listing Fees and Annual Fees. These are applied on a case by case basis, and differ depending on a firm’s structure.

For more information on listing and annual fees, please click here.

Listing Guides:

For the full NYSE listing manual, please click here.

How to Apply

Getting listed on any tier of the NYSE is a four-step process. To apply, please visit the NYSE Get Started Page. The steps to getting listed in order are: 1. Choosing your market, 2. Reserving your ticker symbol, 3. Submitting your application, and 4. Selecting your DMM (Designated Market Maker). The NYSE will get back to you within 14 business to let you know if your application was accepted.

Transfer Agent Services

As a full-service transfer agency with over 30 years of industry experience, Colonial Stock Transfer can assist your firm with getting listed on the NYSE trading platform. Please contact us today with any questions.