Nasdaq, the technology stock exchange, has petitioned the Securities and Exchange Commission, the US regulator, to more easily allow companies to voluntarily delist from the New York Stock Exchange.

Nasdaq has asked for the SEC to repeal rule 500 of the NYSE, which requires companies to give notice to their 35 largest shareholders and issue a press release announcing their plans to delist. Companies wanting to delist must then wait for 20 to 60 working days and get approval from the audit committee and its own board.