The New York Stock Exchange (NYSE) submitted a proposed rule change to amend Section 907.00 of the NYSE Manual. This amendment aims to clarify the application of complimentary products and services offered to companies listed on the exchange, depending on their global market value. Companies that listed on or after January 11, 2021, will receive these services for 48 months, while those listed earlier will get them for 24 months. The change is primarily for clarification and transparency and does not impose any significant burden on competition or affect investor protection.
Simple Explanation
The NYSE wants to make sure everyone understands how it gives free goodies to companies based on how big they are. If a company joined the NYSE playgroup after January 11, 2021, they get to enjoy these goodies for 48 months, but if they joined before that, they only get them for 24 months.