NYSE Amends Listed Company Manual to Increase Certain of Its Listing Fees | Practical Law

NYSE Amends Listed Company Manual to Increase Certain of Its Listing Fees | Practical Law

The NYSE amended its Listed Company Manual to increase certain of its listing fees.

NYSE Amends Listed Company Manual to Increase Certain of Its Listing Fees

Practical Law Legal Update w-004-1299 (Approx. 3 pages)

NYSE Amends Listed Company Manual to Increase Certain of Its Listing Fees

by Practical Law Corporate & Securities
Published on 26 Oct 2016 • USA (National/Federal)
The NYSE amended its Listed Company Manual to increase certain of its listing fees.
On October 24, 2016, the NYSE issued proposed rule amendments to Chapter Nine of its Listed Company Manual (Manual) to increase certain of its listing fees. The proposal takes effect on filing with the SEC, but the proposed fee changes will not be implemented until January 1, 2017.
Update: The proposal was filed with the SEC on December 2, 2016.
The amendments increase:
  • The fee per share in connection with the initial listing of a new class of equity securities (from $0.0032 per share to $0.004 per share).
  • The minimum initial listing fee in connection with a new class of equity securities (from $125,000 to $150,000).
  • The maximum initial listing fee in connection with a new class of equity securities (from $250,000 to $295,000).
  • The annual fee per share in connection with the following securities (from $0.001025 per share to $0.00105 per share):
    • primary class of common shares (including equity investment tracking stock);
    • each additional class of common shares (including tracking stock);
    • the primary class of preferred stock (if no class of common shares is listed);
    • each additional class of preferred stock (whether the primary class is common stock or preferred stock);
    • each class of warrants; and
    • short-term securities.
  • The minimum annual fee applicable to the primary class of common shares (including equity investment tracking stock) or the primary class of preferred stock (if no class of common shares is listed) (from $52,500 to $59,500).
  • The minimum annual fee applicable to structured products under Section 902.05 of the Manual and short-term securities listed under Section 902.06 of the Manual (from $15,000 to $20,000).
  • The minimum initial and annual listing fees for listed debt of NYSE equity issuers and affiliated companies (from $15,000 to $20,000).
  • The minimum initial and annual listing fees for listed debt of companies other than NYSE equity issuers and affiliated companies (from $15,000 to $40,000).
To learn more about the listing requirements for the NYSE and other exchanges, see Practice Note, Selecting a US Securities Exchange.