The Form 25-NSE Files Dataset is a complete corpus of exchange-filed delisting notifications submitted to EDGAR under Section 12(b) of the Securities Exchange Act of 1934. Each record is a single Form 25-NSE filing — one notification by a national securities exchange that a specific class of securities is being removed from listing and registration pursuant to Rule 12d2-2. The dataset includes both original notifications (25-NSE) and their amendment variant (25-NSE/A), filed by registered exchanges such as the New York Stock Exchange LLC, NYSE American, NYSE Arca, The Nasdaq Stock Market LLC, Cboe BZX, Cboe EDGX, IEX, MEMX, MIAX Pearl Equities, and NYSE Chicago. Coverage begins with filings from May 2006 — the period in which exchanges began transmitting Form 25 notifications electronically through EDGAR following the SEC's 2005 amendments to Rule 12d2-2 — and continues to the present. Records are distributed as monthly ZIP containers and combine a structured XML payload, an EDGAR-rendered HTML twin, an EX-99.25 rule-provision exhibit, and a sec-api.io metadata summary.
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The dataset contains every Form 25-NSE and Form 25-NSE/A filing transmitted to EDGAR from May 2006 to the present. Form 25-NSE is the electronic form a national securities exchange uses to notify the SEC of the removal of a class of securities from listing and registration pursuant to Rule 12d2-2 under the Exchange Act. The "NSE" suffix designates the exchange-filed variant of Form 25 (as distinct from issuer-filed Form 25 submissions). It is a short, structured notification rather than a full disclosure document: it identifies the exchange, the issuer, and the class of security; cites the specific subparagraph of Rule 12d2-2 invoked as the legal basis for the removal; states the operative dates (redemption or maturity date, trading-suspension date, and removal effective date); and is signed by an authorized officer of the exchange.
The form is invoked for matured, redeemed, retired, or otherwise extinguished securities, and for securities removed because of substitution events such as mergers, reorganizations, exchange offers, or reverse stock-split-driven share replacements. The substantive content lives in two complementary places: a machine-readable XML payload that captures the structured fields of the form, and an exhibit document of type EX-99.25 that carries the prose "rule-provision notice" with the human-readable justification, dates, and any narrative qualifications such as merger conversion ratios or successor entity names.
The dataset is delivered as ZIP containers. The file types found across the dataset are XML, TXT, JSON, and HTML, corresponding to the structured form, the exhibit body, the metadata summary, and the rendered presentational version of the form respectively.
One record in the Form 25-NSE Files dataset is a single Form 25-NSE filing: one notification by a national securities exchange that a specific class of securities is being removed from listing and registration under Section 12(b) of the Securities Exchange Act of 1934. Each record is keyed by an EDGAR accession number and is materialized as a self-contained accession-numbered folder (the accession number stripped of dashes) inside a monthly ZIP container. The dataset spans both the original notification (25-NSE) and its amendment variant (25-NSE/A); a 25-NSE/A record has the same anatomy as a 25-NSE record but corrects, supplements, or restates a previously filed notification.
The record unit is the filing, not the security and not the issuer. A single filing covers one class of securities for one issuer, but an exchange can submit many filings on the same day for many issuers, and any given issuer may appear across multiple records over time as different classes (common stock, preferred series, callable notes, warrants, depositary shares, units) are delisted on different dates. When a security is moved between exchanges or suspended in connection with a merger, reorganization, or reverse merger, each delisting event generates its own discrete 25-NSE record.
Each accession folder is named with the accession number stripped of dashes and contains a small, predictable set of files:
metadata.json — structured filing metadata produced by sec-api.io, always present, summarizing form type, accession number, timestamps, parties, and the document inventory of the EDGAR submission.primary_doc.xml — the canonical Form 25 XML payload, conforming to schema version X0203 rooted at <notificationOfRemoval>.xslF25X02/primary_doc.xml — an HTML rendering of the same Form 25, produced by EDGAR through the F25X02 XSL stylesheet; the file extension is .xml but the body is <html>...</html> markup.EX-99.25 carrying the rule-provision notice. Its filename is filer-determined and varies across submissions; common forms include ruleprovisionnotice.htm, form25.txt, delistingdetermination.txt, and issuer-prefixed names such as cgbdl-form25.txt, pinc-form25.txt, vxrtdelistreason.txt, xagedelistreason.txt, lvtx-form25.txt, and wlgsdelistreason.txt.The file types found across the dataset are XML, TXT, JSON, and HTML, corresponding to these four roles. Image files that may have accompanied the original EDGAR submission are excluded from the dataset packaging; everything else from the original submission is preserved at the per-document level.
metadata.jsonA flat JSON object containing the structured filing metadata. The principal fields are:
formType — 25-NSE for original notifications, 25-NSE/A for amendments.accessionNo — EDGAR accession number with dashes (for example 0000876661-25-000826); the same identifier without dashes is also the folder name.filedAt — ISO 8601 timestamp with timezone for when EDGAR received the filing.effectivenessDate — the date the delisting takes effect; sometimes absent on amendments and late notifications.description — human-readable description of the form type.linkToFilingDetails, linkToTxt, linkToHtml, linkToXbrl — canonical EDGAR URLs. linkToXbrl is empty for 25-NSE, since the form does not carry XBRL.documentFormatFiles[] — an inventory of every document in the EDGAR submission, each entry with sequence, size, documentUrl, and type (the values used are 25-NSE, EX-99.25, and the complete-submission .txt).dataFiles[] and seriesAndClassesContractsInformation[] — generally empty for this form type.entities[] — exactly two parties. The Subject issuer (the company whose securities are being delisted) carries cik, companyName, fileNo, irsNo, stateOfIncorporation, fiscalYearEnd, act, sic, filmNo, and a tickers array when the issuer is publicly traded. The Filed by exchange (for example New York Stock Exchange LLC, NYSE American LLC, The Nasdaq Stock Market LLC, Cboe BZX Exchange, Inc.) carries cik, companyName, and irsNo.id — internal record identifier.primary_doc.xml — the Form 25 itselfA compact XML document rooted at <notificationOfRemoval> and conforming to schema version X0203. The structured elements are:
<exchange> — the filing exchange, with child <cik> and <entityName> elements.<issuer> — the issuer being delisted, with <cik>, <entityName>, <fileNumber>, a structured <address> block (street1, street2, city, stateOrCountryCode, stateOrCountry, zipCode), and <telephoneNumber>.<descriptionClassSecurity> — a free-text characterization of the class being removed; values range from short labels such as Common Stock to long instrument descriptors such as 7.325% Fixed Rate Resetting Senior Callable Notes due 2026.<ruleProvision> — the CFR citation specifying the subparagraph of Rule 12d2-2 under which the removal is filed. Common values are 17 CFR 240.12d2-2(a)(1) (the entire class was called for redemption, matured, or retired), (a)(2) (redeemed or paid at maturity), and (a)(3) (substituted in a merger, reorganization, or exchange).<signatureData> — <signatureName>, <signatureTitle>, and <signatureDate> of the exchange representative who executed the notification.xslF25X02/primary_doc.xml — rendered Form 25The EDGAR-rendered presentational version of the same Form 25, expressed as HTML even though it carries an .xml extension. It lays out the form as a printable filing with the OMB header, issuer and exchange labels, the rule-provision check-box matrix, and a signature block. It is informationally redundant with primary_doc.xml for automated extraction but useful for human review and as a fallback when the exhibit is a placeholder.
A short SGML-wrapped text or HTML fragment carrying the prose justification for the delisting. The exhibit is wrapped in the standard EDGAR document wrapper (<DOCUMENT> / <TYPE>EX-99.25 / <SEQUENCE> / <FILENAME> / <TEXT> ... </TEXT> / </DOCUMENT>). The body restates the legal heading ("Notification of the Removal from Listing and Registration of the Stated Securities"), names the exchange, recites the rule-provision subparagraphs being invoked (typically as a check-box list with the active subparagraph marked [ X ]), and supplies the operative dates: redemption or maturity date, the date trading was suspended, and the morning-of-business date on which removal becomes effective. When the cited rule is (a)(3) — substitution — the body additionally names the surviving entity and the conversion ratio (for example, the share-for-share exchange ratio in a stock-for-stock merger). Some filers, most consistently Nasdaq, ship an effectively empty placeholder exhibit (a form25.txt containing only the literal token Form25); in those cases the substantive narrative is carried only by the rendered Form 25 and the structured XML.
A record bundles the structured Form 25 XML, its EDGAR-rendered HTML twin, the EX-99.25 rule-provision exhibit, and the sec-api.io metadata summary. Together these provide both the structured data fields needed for automated extraction (issuer identifiers, exchange identifier, security description, rule subparagraph, signature, filing date, effectiveness date) and the prose rationale needed to interpret the event in context (suspension date, merger counterparties and ratios, redemption mechanics). The metadata's documentFormatFiles[] further references the original EDGAR complete-submission .txt envelope by URL.
Image files that may have been part of the original EDGAR submission are not packaged into the record. The dataset does not embed the SEC's complete-submission .txt envelope alongside the per-document files (only its EDGAR URL is referenced from metadata). Cross-referenced filings remain separate records on EDGAR and outside the 25-NSE record boundary: the issuer's own Form 25 (when filed separately by the issuer rather than the exchange), the issuer's Form 15 deregistration filing, and any subsequent 10-K, 10-Q, or 8-K disclosures discussing the delisting are not included. Series-and-classes contracts information and XBRL data files are structurally not part of this form type.
Form 25-NSE was introduced to give national securities exchanges a structured electronic mechanism for delisting notifications under amended Rule 12d2-2, replacing the earlier paper Form 25 process. The dataset begins with filings from May 2006, corresponding to the period in which exchanges began transmitting Form 25 notifications electronically through EDGAR following the SEC's 2005 amendments to Rule 12d2-2 and adoption of Form 25 as the unified delisting form. The XML schema (X0203) and the small, fixed set of fields — exchange, issuer, security description, rule provision, signature — have remained stable across the dataset's coverage, so the structural anatomy of a record is consistent across years rather than evolving through major schema versions. The required components — a structured XML form, a rendered HTML version produced by EDGAR's stylesheet, and the EX-99.25 rule-provision exhibit — have likewise been the standard composition throughout.
The amendment variant 25-NSE/A uses the same schema and the same record layout; amendments differ only in the form-type label and in that they restate or correct values from a prior accession. Variation across records is driven primarily by the rule-provision subparagraph invoked (which dictates the substantive prose of the EX-99.25 exhibit) and by exchange-specific filing conventions — most visibly the contrast between NYSE-style narrative exhibits and Nasdaq-style placeholder exhibits.
Because the structured XML and the rendered HTML carry the same fields, automated extraction should prefer primary_doc.xml: it is consistently shaped across filers and trivially parsable. The EX-99.25 exhibit is the only place where merger conversion ratios, successor entity names, suspension dates, and redemption mechanics are reliably expressed as natural-language text, so any pipeline that needs to explain why a delisting occurred — or to disambiguate (a)(1) redemptions from (a)(2) maturities or (a)(3) substitutions — must read the exhibit body, not just the <ruleProvision> element. When the exhibit is a Nasdaq-style placeholder, the rendered xslF25X02/primary_doc.xml HTML is the next-best narrative source; in practice the structured XML still carries the rule-provision citation in those cases.
The two parties in entities[] should be interpreted by role: the entity carrying the Subject role is the issuer of the delisted securities, while the entity carrying the Filed by role is the exchange. These are not interchangeable, and the issuer's CIK can be used to join 25-NSE records to other filings by the same issuer. The tickers array is populated from the issuer side and may carry multiple symbols when several share classes or depositary instruments coexist for one issuer, even though the specific class being removed is identified only in the <descriptionClassSecurity> free text. The accession number without dashes (used as the folder name) and with dashes (used in accessionNo) are equivalent identifiers; either form can be used to locate the source filing on EDGAR.
Filings are timestamped at receipt in filedAt; the operative delisting date is effectivenessDate in the metadata and is also phrased in the exhibit text as "at the opening of business on …". For 25-NSE/A amendments, effectivenessDate may be absent, and the substantive change relative to the original filing is generally documented in the exhibit prose rather than in any structured diff, so amendments must be interpreted by reading the exhibit body alongside the original notification.
Each record in this dataset is filed by a national securities exchange registered under Section 6 of the Securities Exchange Act of 1934, acting in its self-regulatory capacity as the listing venue. The filer is never the issuer of the affected securities; the issuer is the subject of the form, not its signatory. The "NSE" suffix on the form type designates the exchange-filed variant, distinguishing it from issuer-filed Form 25.
Typical filers include the New York Stock Exchange LLC, NYSE American, NYSE Arca, The Nasdaq Stock Market LLC (across its Global Select, Global Market, and Capital Market tiers), Cboe BZX, Cboe EDGX, IEX, MEMX, MIAX Pearl Equities, and NYSE Chicago. The form is signed by an authorized representative of the exchange's listing or regulatory function.
Form 25-NSE is the exchange's notification to the Commission, under Rule 12d2-2 of the Exchange Act, that a class of securities is being removed from listing and from Section 12(b) registration. Three procedural paths under Rule 12d2-2 determine which form is used and who files it:
The records in this dataset are therefore Rule 12d2-2(a) and Rule 12d2-2(b) filings — the exchange-driven population. The trigger is a specific lifecycle event (maturity, redemption, expiration, conversion, retirement) or a concluded exchange determination of non-compliance, not generic trading inactivity.
Both forms serve the same statutory purpose — notifying the Commission of removal from Section 12(b) listing and registration — and share Form 25 lineage in EDGAR. They differ in filer identity:
This dataset isolates the exchange-filed population.
Under Rule 12d2-2(a), the exchange is required to file the notification promptly after the qualifying lifecycle event occurs. Under Rule 12d2-2(b), filing follows completion of the exchange's internal delisting procedure, including notice to the issuer and any appeal rights afforded under exchange rules.
Once filed, statutory effects run from the filing date:
Section 12(g) registration and Section 15(d) reporting obligations may persist independently of these effects and are addressed separately by the issuer on Form 15.
The dataset begins in May 2006, reflecting the SEC's 2005 amendments to Rule 12d2-2 (effective April 24, 2006) that modernized the rule and mandated electronic filing of Form 25 on EDGAR. Earlier paper notifications under prior versions of Rule 12d2-2 are not part of this corpus.
Form 25-NSE/A records are amendments to a previously filed Form 25-NSE, submitted by the same exchange that filed the original. Amendments do not shift the filing obligation to another party. They typically correct or update:
Several neighboring forms capture the same delisting event from a different filer's perspective, terminate a different registration layer, or disclose the underlying business cause. The closest comparison points are issuer-filed Form 25, Form 15, and Form 8-K Item 3.01.
Same form number and statutory hook (Section 12(b), Rule 12d2-2), different filer and different fact pattern.
Practical split: issuer-filed Form 25 corpora skew toward operating-company delistings, going-private transactions, mergers, and venue switches. Form 25-NSE corpora are dominated by structured products, ETNs, ETFs, and fixed-income instruments reaching natural termination. Use Form 25-NSE for instrument life-cycle analytics; use issuer-filed Form 25 for corporate delisting events.
Often confused with Form 25 because both involve "going dark," but they act on different registration regimes.
A full issuer exit typically runs Form 25 (or 25-NSE) first, then Form 15 weeks or months later. Form 25-NSE alone says nothing about reporting status. Studying the complete exit sequence requires joining 25-NSE to Form 15 by issuer.
The issuer-side narrative companion to a delisting.
Item 3.01 typically comes first and carries the rationale (compliance failure, voluntary withdrawal, merger). Form 25-NSE comes later and provides procedural confirmation with clean instrument-level identifiers and effective dates. Critically, Item 3.01 is only triggered for issuers with ongoing 8-K obligations, so routine maturities and redemptions are absent from the 8-K corpus but fully present in 25-NSE. Use 8-K Item 3.01 for narrative and event-study text; use 25-NSE for complete event timestamps.
Included in this dataset. Amendments correct CUSIPs, security descriptions, or effective dates on a prior 25-NSE. Treat the original-plus-amendment chain as one removal event, not multiple delistings.
RW and AW withdraw pending registration statements; they do not delist outstanding securities and do not overlap with Form 25-NSE beyond the general theme of removal.
These appear in the same issuer histories as ETF or closed-end fund delistings but are not delisting forms. Form 24F-2 is an annual registration-fee filing under Rule 24f-2; Form N-CEN is the annual census report for registered investment companies. When an ETF terminates, the exchange still files 25-NSE for the listing removal regardless of any concurrent N-CEN or 24F-2 activity.
Form 25-NSE is the only structured, exchange-originated record of every Section 12(b) listing removal, and it is the only source that captures the long tail of routine, non-controversial delistings (matured notes, redeemed structured products, expired ETNs) that never generate an 8-K, a Form 15, or any issuer-side disclosure. Issuer-filed Form 25 covers a different filer and a different motivation. Form 15 governs a later, separate deregistration step. Form 8-K Item 3.01 provides narrative context but with incomplete coverage. Fund forms address fees and census data, not listing status. The neighbors complement Form 25-NSE; none substitute for it.
Form 25-NSE filings are the authoritative record of when a security is removed from listing and Section 12(b) registration on a national exchange. The fields that drive most workflows are the issuer block and CIK in primary_doc.xml, the security class and cusip, the exchange identifier, the ruleProvision cited (Rule 12d2-2(a)(1)–(a)(4) and related subsections), the effectivenessDate, and the free-text exhibit describing the reason.
Index providers and ETF operations teams use the dataset to drive constituent removals and benchmark reconstitution. They key on the issuer block, cusip, exchange, effectivenessDate, and ruleProvision to time same-day or next-day deletions and reconcile internal constituent files against exchange-level delisting notifications.
Reference-data engineers treat 25-NSE as the trigger to retire identifiers in security master systems. They use the issuer CIK, class, cusip, exchange, and effectivenessDate to flip instrument states from "active listed" to "delisted" and propagate the change to risk, accounting, and OMS pipelines.
Trading-system support and product-control teams block delisted securities from new orders, flag open positions, and transition customer holdings of redeemed or matured instruments. The ruleProvision distinguishes voluntary, exchange-initiated, and routine maturity removals; the effectivenessDate and exhibit narrative drive symbology cleanups, restriction lists, and statement adjustments.
A large share of 25-NSE filings cover exchange-listed debt, structured notes, preferred securities, ETNs, and warrants. Analysts confirm lifecycle endpoints, reconcile coupon and principal schedules, and update structured-product databases using the issuer block, security class, redemption or maturity language in the exhibit, and the rule citation that separates maturity-driven from credit-event-driven removals.
AP and arbitrage desks read the effectivenessDate, exchange, and security class to wind down creation/redemption activity and remove matured or terminated ETFs and ETNs from arbitrage screens before quotes go stale.
Corporate-actions teams use 25-NSE alongside issuer 8-Ks and clearinghouse bulletins to confirm delistings tied to mergers, go-private transactions, bankruptcies, redemptions, and exchange transfers. The ruleProvision encodes the category of action; the issuer CIK, cusip, effectivenessDate, and exhibit text drive event classification, client notifications, and tax-lot adjustments.
Researchers studying delisting returns, liquidity decay, and listing transfers use the effectivenessDate as the event-time anchor and the ruleProvision to segment voluntary delistings, exchange-initiated removals, mergers, redemptions, and maturities into distinct cohorts for event studies.
Compliance and surveillance teams retire alerts on delisted instruments and verify that delisting procedures conformed to Rule 12d2-2. They check the cited subsection, the timing between issuer disclosures and exchange notification, and any 25-NSE/A amendments correcting prior filings.
Securities counsel use the dataset to fix the legal endpoint of Section 12(b) registration as it interacts with Section 13 and 15(d) reporting, Form 15 deregistration, and stockholder approval requirements. The issuer identifiers, ruleProvision, effectivenessDate, and exhibit narrative anchor chronologies for go-private transactions, deregistration sequencing, and delisting disputes.
Reporters covering corporate actions, distressed issuers, and structured-product wind-downs use issuer name, exchange, effectivenessDate, and exhibit reason to verify delistings, identify clusters tied to specific sponsors, and track ETN/ETP terminations.
Academics build delisting cohorts for empirical work on going-private transactions, voluntary versus involuntary delistings, and exchange competition. Standardized rule provisions, exchange identifiers, and timestamped effectiveness dates support reproducible historical samples.
Any function that needs to know precisely when a security ceased to be a Section 12(b)-registered exchange-listed instrument, and under which subsection of Rule 12d2-2, depends on these filings. That puts 25-NSE at the center of reference-data, trading-operations, fixed-income, ETF, custody, surveillance, legal, journalism, and academic workflows.
Form 25-NSE records support workflows that depend on knowing exactly when, why, and under which Rule 12d2-2 subparagraph a security was removed from exchange listing. The use cases below tie directly to the structured fields in primary_doc.xml, the EX-99.25 exhibit narrative, and the metadata envelope.
Daily security-master delisting feed. Parse each new accession's primary_doc.xml for <issuer>/<cik>, <descriptionClassSecurity>, and <exchange>/<entityName>, join to the metadata's effectivenessDate, and emit a row that flips the matching instrument in a security master from "active listed" to "delisted" on the morning-of-business date. The <ruleProvision> value drives the retirement reason code propagated to OMS, risk, and accounting downstreams.
Structured-product and ETN lifecycle tracking. Filter records where <descriptionClassSecurity> contains note, ETN, callable, or warrant language and the <ruleProvision> is 17 CFR 240.12d2-2(a)(1) or (a)(2). Extract the redemption or maturity date from the EX-99.25 exhibit body to reconcile against issuer term sheets and close out coupon and principal schedules in a structured-product database.
Merger and substitution event extraction. For records citing 17 CFR 240.12d2-2(a)(3), read the EX-99.25 exhibit prose to pull the surviving entity name and the share-for-share or cash-and-stock conversion ratio, then key by issuer CIK and effectivenessDate to attach those terms to a corporate-actions timeline alongside the related 8-K Item 2.01 and Item 3.01 filings.
Full issuer-exit chronologies. Use the issuer CIK from entities[] and the <issuer>/<fileNumber> to join 25-NSE records to the same issuer's later Form 15 and prior 8-K Item 3.01 filings. The result is a per-issuer sequence of listing-removal date, Section 12(b) deregistration, and Section 12(g) or 15(d) termination, used by securities counsel to anchor go-private and deregistration timelines.
Event-study cohorts segmented by removal cause. Build delisting cohorts by partitioning on <ruleProvision> subparagraph and <exchange>/<cik>, then use effectivenessDate as the event-time anchor and the issuer tickers array for return-data joins. Researchers and quant teams use this to separate maturities, redemptions, substitutions, and exchange-initiated removals into distinct samples.
Amendment reconciliation. Track 25-NSE/A records and pair each one to its prior 25-NSE accession by issuer CIK and security description, then diff the exhibit body to capture corrected effective dates, CUSIPs, or class labels. This collapses an original-plus-amendment chain into a single canonical removal event for downstream consumers.
Exchange-level delisting analytics. Group records by the <exchange> element and filedAt month to produce counts of removals per venue, split by <ruleProvision> subparagraph and instrument type inferred from <descriptionClassSecurity>. The output supports venue-competition studies, ETP-sponsor wind-down monitoring, and journalism on clustered terminations from a single issuer or sponsor.
Dataset Index JSON API: https://api.sec-api.io/datasets/form-25nse-files.json
This endpoint returns dataset metadata including the name, description, last updated timestamp, earliest sample date, total records and size, covered form types (25-NSE, 25-NSE/A), container format (ZIP), and file types (XML, TXT, JSON, HTML). It also includes the full dataset download URL and the list of individual monthly container files with per-container size, record count, updated timestamp, and download URL. Use this endpoint to monitor which containers were updated in the most recent refresh run and decide on a daily basis which containers to re-download. This endpoint does not require an API key.
Example response:
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{
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"datasetId": "1f13365b-9ae0-690b-bdea-c6ebbe448b10",
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"datasetDownloadUrl": "https://api.sec-api.io/datasets/form-25nse-files.zip",
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"name": "Form 25-NSE Files Dataset",
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"updatedAt": "2026-04-24T02:56:15.296Z",
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"earliestSampleDate": "2006-05-01",
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"totalRecords": 48602,
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"totalSize": 80556510,
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"formTypes": ["25-NSE", "25-NSE/A"],
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"containerFormat": "ZIP",
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"fileTypes": ["XML", "TXT", "JSON", "HTML"],
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"containers": [
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{
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"downloadUrl": "https://api.sec-api.io/datasets/form-25nse-files/2026/2026-04.zip",
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"key": "2026/2026-04.zip",
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"size": 1842311,
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"records": 412,
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"updatedAt": "2026-04-24T02:56:15.296Z"
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}
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]
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}
Download Entire Dataset: https://api.sec-api.io/datasets/form-25nse-files.zip?token=YOUR_API_KEY
Downloads the complete dataset as a single ZIP archive covering all filings from May 2006 onward. This endpoint requires an API key.
Download Single Container: https://api.sec-api.io/datasets/form-25nse-files/2026/2026-04.zip?token=YOUR_API_KEY
Downloads one monthly container ZIP file instead of the full dataset, which is useful for incremental updates after consulting the index JSON. This endpoint requires an API key.
The dataset covers Form 25-NSE (original notifications) and Form 25-NSE/A (amendments) submitted to EDGAR by national securities exchanges under Rule 12d2-2 of the Securities Exchange Act of 1934. Issuer-filed Form 25 (no suffix) under Rule 12d2-2(c) is a different form filed by the issuer for voluntary delistings and is not part of this corpus.
One record is a single Form 25-NSE filing — one notification by a national securities exchange that a specific class of securities is being removed from listing and Section 12(b) registration. Each record is keyed by an EDGAR accession number and is materialized as a self-contained accession-numbered folder containing metadata.json, primary_doc.xml, an EDGAR-rendered xslF25X02/primary_doc.xml, and an EX-99.25 rule-provision exhibit.
A national securities exchange registered under Section 6 of the Securities Exchange Act files Form 25-NSE in its self-regulatory capacity as the listing venue. Typical filers include the New York Stock Exchange, NYSE American, NYSE Arca, The Nasdaq Stock Market LLC, Cboe BZX, Cboe EDGX, IEX, MEMX, MIAX Pearl Equities, and NYSE Chicago. The issuer is the subject of the form, not its signatory.
Under Rule 12d2-2(a), the exchange files promptly after a qualifying lifecycle event such as redemption, maturity, expiration, or substitution in a merger or reorganization. Under Rule 12d2-2(b), filing follows completion of the exchange's internal delisting procedure for a failure to meet continued listing standards. Once filed, removal from listing becomes effective 10 days later, and Section 12(b) deregistration typically follows ~90 days later.
The dataset begins with filings from May 2006, reflecting the SEC's 2005 amendments to Rule 12d2-2 (effective April 24, 2006) that mandated electronic filing of Form 25 on EDGAR. Earlier paper notifications under prior versions of Rule 12d2-2 are not part of this corpus. Coverage continues to the present, and new monthly containers are added as filings accumulate.
Records are distributed as monthly ZIP containers. Inside each accession folder, the file types are XML (the structured primary_doc.xml Form 25 conforming to schema X0203), HTML (the EDGAR-rendered xslF25X02/primary_doc.xml), TXT or HTML (the EX-99.25 rule-provision exhibit), and JSON (the metadata.json summary).
Form 25-NSE is filed by the exchange under Rule 12d2-2(a) or (b), almost always for routine, non-discretionary removals such as matured notes, redeemed structured products, called warrants, expired options, and retired debt. Issuer-filed Form 25 (no suffix) is filed by the issuer under Rule 12d2-2(c) for voluntary delistings — going-private transactions, mergers, and venue switches — and is signed by an issuer officer rather than an exchange representative. This dataset isolates the exchange-filed population only.