U.S. securities regulators approved strict new listing standards for reverse merger companies on Wednesday amid a rash of recent accounting scandals.Under the new listing standards approved by the U.S. Securities and Exchange Commission, any company that becomes public through a reverse merger will have to meet stricter new requirements before they can list on NASDAQ OMX , NYSE Euronext and NYSE AMEX.A reverse merger is a method of entering the market where U.S. shell companies merge with foreign companies. Many of the companies that have been targeted by regulators for accounting issues have been based in China.Both the SEC and the U.S. Justice Department are actively investigating accounting irregularities at U.S.-listed companies based in China. The SEC sharpened its focus on the issue beginning last year as dozens of China-based companies began disclosing auditor resignations or book-keeping irregularities.
NYSE Euronext is a global operator of financial markets and provider of trading technologies. Shares of NYX fell by 3.05% or $-0.84/share to $26.72. In the past year, the shares have traded as low as $23.24 and as high as $41.60. On average, 4051510 shares of NYX exchange hands on a given day and today's volume is recorded at 3742852.
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