Federal Register #SR-LTSE-2025-31

SEC Approves Updated Complimentary Issuer Services for Long-Term Stock Exchange

The Securities and Exchange Commission (SEC) has approved an amendment to the Long-Term Stock Exchange, Inc. (LTSE) rules, updating the suite of complimentary issuer services: - Government Buyer: - Securities and Exchange Commission (SEC), Division of Trading and Markets - OEMs and Vendors: - Long-Term Stock Exchange, Inc. (LTSE) - LTSE Services, Inc. (affiliate providing services) - Products/Services Requested: - Promotional Services for listed companies - Company-specific web pages, press releases, articles, videos, podcasts, and invitations to listing ceremonies - Capital Market Reports - Tailored investor and capital markets reports with sector-specific insights and analytics (approximate retail value: $5,000/year) - Market Intelligence Reports - Investor-holding analysis and ESG-focused analysis (approximate retail value: $150,000/year) - Investor Access Program - Virtual engagement program for direct issuer-investor interaction, including third-party introductions (approximate retail value: $150,000/year) - Unique or Notable Requirements: - Complimentary services are available for a five-year term (extended from four years) - The Long-Term Investor Platform (LTIP) is discontinued - Services are available to both newly and currently listed companies, with flexible election timing - Services are designed to be consistent with similar offerings from other national securities exchanges - No specific product quantities or part numbers; these are issuer support services, not tangible goods - Place of Performance/Delivery: - Services provided to companies listed on the LTSE; SEC headquarters is the regulatory authority

Description

This notice announces the filing of Amendment No. 1 and the order granting accelerated approval of a proposed rule change by the Long-Term Stock Exchange, Inc. The rule change updates and reorganizes the complimentary products and services offered to listed companies, including promotional services, capital market reports, market intelligence reports, and an investor access program. The amendment extends the availability of these services from four to five years and removes the previously offered Long-Term Investor Platform. The changes aim to enhance issuer support and maintain competitive offerings comparable to other national securities exchanges.

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