NYSE American amends Rule 7.18E to clarify Initial Listing Halts

On September 14, 2026, NYSE American LLC filed a proposed rule change with the Securities and Exchange Commission under Section 19(b)(1) of the Act. The filing, made on September 2, 2026, seeks to amend Rule 7.18E, which governs trading halts, and is effective immediately pursuant to Section 19(b)(3)(A)(iii).

The amendment to Rule 7.18E(b)(1)(B)(i) adds explicit language that an Initial Listing Regulatory Halt does not apply to securities that are IPOs in equity securities that are not derivative products, or to securities already listed on a national exchange prior to initial pricing. The Exchange characterizes the change as clarifying rather than substantive because the exceptions are already implicit in the existing rule text.

A second amendment revises Rule 7.18E(b)(5)(B)(iv) to state that trading will resume after an Initial Listing Regulatory Halt "with a Trading Halt Auction." The current rule references a Trading Halt Auction in Rule 7.18E(b)(5)(B) but does not specify it for Initial Listing Halts; the proposed language makes the mechanism explicit.

The Exchange reported that no written comments were received and that the proposal imposes no additional burden on competition. Under the Act, the Commission may temporarily suspend the rule change within 60 days of filing, although the filing satisfies the requirement to give notice at least 5 business days prior to the filing date. The Exchange asserts that the amendments promote transparency and protect the public interest without altering substantive market functions.