NYSE files temporary ease of listing standards amid coronavirus disruptions

07.04.2020 - Davydova Maria
NYSE files temporary ease of listing standards amid coronavirus disruptions

The New York Stock Exchange is in talks with regulators to ease its listing requirements for companies that have failed compliance due to the market strain caused by the coronavirus.

The U.S. Securities and Exchange Commission declined the initial proposal filed by the NYSE to forego listing requirements until June, said Farrell Kramer, spokesman for NYSE.

The S&P 500 has lost over 20% of its gains since February due to extreme volatility in the market.

The NYSE has filed for a temporary suspension of the compulsory maintained share price of $1 and the average global market cap of $50 million for 30 trading days. 

In the exchange’s original filing, it recognized the disruptions experienced by several businesses and the need to prioritize emergency measures for the protection of their employees. 

Marking companies that failed compliance might incur negative impressions on investors. The drop in share prices are perceived to be caused by the general market situation rather than specific company factors, the exchange added. 

The NYSE’s last temporary suspension of listing requirements was in 2009 during the global financial crisis.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?