Minimum requirements and specific criteria must typically be met in order to join a major exchange. A firm can only list shares for trading on an exchange if all of the exchange’s listing requirements are satisfied.
For example, a business must have a minimum market capitalization of £700,000, three years of audited financial records, and a minimum free float of 25% before it can list on the London Stock Exchange.
Newly listed businesses must also fulfill minimum market capitalization and public float requirements, according to the NYSE and BSE. Penny stocks and unfunded firms are prevented from wreaking havoc on a large market by such safeguards.