Exchange Delisting Notices (Form 25)

Form 25 and 25-NSE notices striking a security from a national exchange, with the exchange that filed it, the issuer, the class of security, and the SEC rule provision - which separates an involuntary delisting from a preferred series simply reaching maturity.

edgar_delisting_notices - the dataset name to pass to the Obscura API.

What one row means

One **Form 25** notification that a class of securities is being removed from listing and registration on a national securities exchange - a DELISTING, dated, attributed to an exchange and an issuer, and identified down to the individual class of security. Nothing else in this catalogue carries a delisting as a first-class event. `edgar_filings` records that a `25-NSE` exists; the derived SPAC view flags `is_delisted` as a boolean over form types. Neither says WHICH exchange, WHICH class of security, or UNDER WHICH RULE - and the last of those is the difference between a company being thrown off the exchange and a preferred series simply maturing. # THE FORM COMES IN TWO SHAPES AND ONLY ONE IS STRUCTURED * **`25-NSE` / `25-NSE/A` - filed BY THE EXCHANGE.** A ~4 KB submission whose payload is a `notificationOfRemoval` XML document: exchange, issuer, file number, the class of security in words, the rule provision relied on, and the signer. The schema is `X0203` and it has not changed - verified byte-shape identical on samples from 2008-02-29 (American Stock Exchange), 2011, 2019, 2024 (NYSE, Nasdaq) and 2026-02-13. Every structured column below comes from here. ~420 filings a quarter. * **`25` / `25/A` - filed BY THE ISSUER**, withdrawing voluntarily. **HTML prose, no XML at all**, with the rule provision expressed as a ballot-box glyph inside filer-specific markup. ~30 filings a quarter. These rows carry the header facts and `filed_by_exchange = false`, and every XML-derived column is NULL. Nothing is inferred from the prose: see the dataset doc for why the checkbox is not parsed. # ONE NOTICE IS TWO ARCHIVE PATHS A `25-NSE` associates the EXCHANGE and the ISSUER, and EDGAR indexes it under both CIK paths - measured over three dissemination days spanning 2024-2026, **all 12 `25-NSE` accessions have exactly two paths, never one and never three**, while both `25` accessions have one. The row is keyed on the accession so an exchange-filed delisting is one event rather than two. See `docs/datasets/edgar_delisting_notices.md` and `docs/availability/edgar_delisting_notices.md`.

One row per One row per Form 25 submission (25, 25/A, 25-NSE, 25-NSE/A), keyed by its ACCESSION. One submission removes ONE class of security from ONE exchange, so the row is also one (issuer, exchange, security class) delisting event - an issuer delisting its common stock and its warrants files two separate notices and gets two rows, which is correct because they are two events with two rule provisions. The key is the accession and NOT the archive path because EDGAR indexes an exchange-filed notice under BOTH the exchange's CIK path and the issuer's: measured over three dissemination days spanning 2024-2026, all 12 25-NSE accessions carry exactly two index paths. Keying on the path would double every exchange-filed delisting and, worse, would attribute one of the two copies to the exchange rather than the issuer..

Point-in-time availability

Every Obscura dataset carries available_date: the calendar day the publisher made the row available, day-of, with no session rounding. It is the one column a backtest filters on, and it means the same thing on every dataset in the catalog.

For edgar_delisting_notices: filing_join: available_date is the EDGAR DISSEMINATION day, taken from the bronze object's own day partition, never from the header's FILED AS OF DATE (SEC back-dates that field on 4.88 % of the EDGAR corpus). WHY this family carries no separate event date: a Form 25 IS a publication - the notification to the SEC and the market is the act, and the removal it announces takes effect ten days LATER under Rule 12d2-2(d)(1), so the only other date in play is in the future and cannot be an occurred_on. signature_date, the day the exchange's officer signed the notice, is stored as its own named column and is NOT the conformed event date: it equalled the dissemination day on 7 of 7 sampled notices spanning 2008-2026, so promoting it would assert a distinction that has not been observed. Evidence class B; see docs/availability/edgar_delisting_notices.md.

Refresh cadence

Obscura refreshes edgar_delisting_notices every 6 hours - the most frequent scheduled job that re-collects or re-exports it. This is Obscura's own pipeline cadence, not the upstream publisher's release schedule; when a row became public is recorded per row in available_date.

Schema - 27 columns

The full public column list for edgar_delisting_notices, with the meaning of every field. The same schema is served unauthenticated at https://api.obscura.trade/v1/catalog/edgar_delisting_notices.

Access edgar_delisting_notices

Two delivery paths, one identifier. Both require an Obscura account and an active subscription; the catalog entry and the schema above are public.

import obscura

client = obscura.Client("obs_live_…")

df = client.query(
    dataset="edgar_delisting_notices",
    symbols=["NVDA", "AAPL"],
    start="2024-01-01",
)

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