NYSE Listing Requirements
Guiding issuers through NYSE listings with expert support on compliance, requirements, and fees.
What is NYSE?
The New York Stock Exchange (NYSE) is currently the world’s largest stock exchange by market capitalization of its listed companies. The NYSE listing requirements contain many tiers for different listings. 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 every day and many famous celebrities invited to ring the opening bell, the NYSE is one of the most widely known and prestigious stock exchanges for a company to list on.
Trading Hours
The NYSE’s normal trading hours are between 9:30 am and 4:00 pm Eastern Time, Monday through Friday.
The NYSE closes trading on holidays that are announced in advance.
The NYSE has initial, distribution, and continued listing standards, as shown below.
Initial Listing Standards
Firms must meet one of the following Financial Standards.
| Financial Standards | II Earnings Test Rule 102.01C(I) | III Global Market Capitalization Test Rule 102.01C(II) | Real Estate Investment Trusts | Closed-end Management Investment Companies | DBusiness Development Companies |
|---|---|---|---|---|---|
| Rule 102.05 | Rule 102.04A | Rule 102.04B | |||
| Adjusted Pre-tax Income | Aggregate for last 3 fiscal years ≥ 10 million; each of the 2 most recent fiscal years ≥ 2 million; positive in all 3 years | ||||
| Global Market Capitalization | $200 million | $75 million | |||
| Stockholders’ Equity | $60 million | ||||
| Market Value of Publicly Held Shares | $40 million | $100 million | $100 million | $60 million | $60 million |
Distribution Standards
Firms must meet all of the following Distribution Standards (Rule 102.01A-B).
| Distribution Standards | IPOs, Spin-offs, Carve-outs | Transfer or Quotation | All Other Listings | Closed-end Funds | Business Development Companies |
|---|---|---|---|---|---|
| Shareholders | 400 round lot | 400 round lot | 2,200 total shareholders OR 400 round lot holders with 1.1M average monthly trading volume over the past 12 months | 400 round lot | 400 round lot |
| Publicly Held Shares | 1.1 million | 1.1 million | 1.1 million | 1.1 million | 1.1 million |
| Minimum Share Price | $4.00 | $4.00 | $4.00 | $4.00 | $4.00 |
| Market Value of Publicly Held Shares | $40 million | $100 million | $100 million | $60 million | $60 million |
| Average Monthly Trading Volume (Shares) | 100,000 | 100,000 | 100,000 |
Continued Listing Standards
To maintain their listings on the New York Stock Exchange, companies must continuously meet specific distribution and financial criteria; failure to comply may trigger suspension or delisting.
| Rule | Criteria | Threshold | Additional Notes |
|---|---|---|---|
| 802.01 | Distribution Criteria – Total Stockholders | Less than 400 | (A) Includes beneficial holders of stock held in the name of Exchange member organizations in addition to holders of record. |
| 802.01 | Distribution Criteria – Total Stockholders & Volume | Less than 1,200 and average monthly trading volume is less than 100,000 shares (most recent 12 months) | Same beneficial holder considerations as above. |
| 802.01 | Distribution Criteria – Publicly-Held Shares | Less than 600,000 shares publicly held | (B) Excludes shares held by directors, officers, immediate families, and holders of 10% or more of a class. (C) If the unit of trading < 100 shares, the requirement is proportionately reduced. |
NYSE Listing Fee Schedule
The NYSE listing fee schedule outlines the one-time initial fees and ongoing annual charges that issuers must pay to list and maintain their securities on the exchange, with rates based on factors such as share count, security type, and company structure.
| Fee Type | Description | Standard 2: Capitalization with Cash Flow |
|---|---|---|
| Application Fee | Non-refundable fee for submitting an application to list | $25,000 |
| Initial Listing Fee – First Class of Common Stock | Flat fee at time of initial listing | $325,000 |
| Initial Listing Fee – Additional Class of Common Stock / Preferred Stock / Warrants | For each additional security class listed | $5,000 |
| Initial Listing Fee – Structured Products | Fee per security at listing | $5,000 |
| Annual Listing Fee – Common Stock | Per share annual rate | $0.001285 per share (effective Jan 1, 2025 — previously $0.001285) |
| Annual Listing Fee – Minimum | Minimum annual fee cap for common stock | $80,000 |
| Annual Listing Fee – Maximum | Maximum annual fee for common stock | $500,000 (common + preferred combined) |
| Annual Listing Fee – Preferred Stock / Additional Classes | Each additional class after the first | $25,000 flat |
| Annual Listing Fee – Structured Products | Per security per year | $20,000 |
| Other Corporate Actions Fees | Changes requiring a supplemental listing application (SLA), such as additional share issues or changes in security type | $500 per SLA filing (generally waived when linked to public offering and included in original listing fee) |
How to Apply
Getting listed on any tier of the NYSE is a four-step process. The steps to getting listed in order are:
- Choose Your Market Determine if NYSE is the right exchange for your company’s needs and goals.
- Reserve Your Ticker Symbol Select and reserve a unique ticker symbol that will represent your company on the exchange.
- Submit Your Application Complete and submit your comprehensive listing application with all required documentation.
- Select Your DMM Choose a Designated Market Maker who will be responsible for maintaining orderly trading in your stock.
⚠️ Response Time
The NYSE will respond to your application within 14 business days to let you know if your application was accepted.
Get Started with your NYSE Listing
If you would like help getting started on your NYSE listing, please complete the form below.
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