The New York Stock Exchange (NYSE) has proposed a rule change to defer the billing of initial listing fees for Acquisition Companies by one year from their listing date. The Exchange believes this change is needed to stay competitive with primary competitor Nasdaq, which already has a similar deferral policy. Acquisition Companies uniquely deposit 100% of IPO proceeds into trust accounts, which makes early-stage fees burdensome. This deferral aims to encourage more of these companies to list on the NYSE without negatively impacting revenue or regulatory funding.
Simple Explanation
The NYSE wants to let certain companies wait a year to pay a big fee when they join, so more of them might pick the NYSE instead of a different exchange. They think this won't stop them from doing important jobs like checking rules, even if it temporarily means less money.