Platinum Analytics denied Nasdaq trading reinstatement
The planned review will not pause PLTS’s trading suspension or delisting, and the company says resumption on Nasdaq is not assured.
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Rhea-AI Filing Summary
Platinum Analytics Cayman Ltd (PLTS) said Nasdaq’s Hearings Panel denied its request to reinstate trading and determined to delist its securities. The hearing took place on August 18, 2026, and the company received the Panel’s decision on September 21, 2026. Trading in PLTS securities was suspended at the opening of trading on September 23, 2026.
The company intends to request review by Nasdaq’s Listing and Hearing Review Council. That request will not stay the suspension or delisting, and the company said there can be no assurance that trading will resume on Nasdaq. The company announced the decision in a press release on September 26, 2026.
Positive
- None.
Negative
- PLTS trading suspension began September 23, 2026.
Filing Explained
In its delisting decision, the Nasdaq Panel cited trading activity it viewed as indicative of potential manipulation and the company’s failure to demonstrate enough liquidity for a fair, orderly market.
Key Figures
Key Terms
Staff Delisting Determination regulatory
Nasdaq Hearings Panel regulatory
Nasdaq Listing and Hearing Review Council regulatory
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Nasdaq decide about PLTS?
Will a PLTS review request pause the Nasdaq suspension?
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of September 2026
Commission File Number: 001-42853
PLATINUM ANALYTICS CAYMAN LIMITED
(Registrant’s Name)
60 Anson Road, 17-01
Mapletree, Singapore 079914
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Nasdaq Delisting Decision
As previously disclosed, Platinum Analytics Cayman Limited (the “Company”) received a Staff Delisting Determination (the “Staff Determination”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that Nasdaq had determined to delist the Company’s securities pursuant to its discretionary authority under Nasdaq Listing Rule IM-5101-4. The Company appealed the Staff Determination by requesting a hearing before the Nasdaq Hearings Panel (the “Panel”) pursuant to Nasdaq Listing Rule 5815. The hearing was held on August 18, 2026.
On September 21, 2026, the Company received a notice from Nasdaq (the “Panel Decision”) notifying the Company that the Panel had determined to deny the Company’s request to reinstate trading on Nasdaq and to delist the Company’s securities. The Panel based its decision principally on trading activity indicative of potential manipulation and the Company’s failure to demonstrate sufficient liquidity to support a fair and orderly market. However, the Panel was unpersuaded by Staff’s arguments concerning the Company’s professional advisors, finding that their prior involvement with other companies that had experienced trading halts, anomalous trading or FINRA enforcement matters did not, standing alone, constitute valid grounds for delisting. The Panel also found that the residence of the Company’s chief executive officer in Singapore did not support delisting. Trading in the Company’s securities was suspended at the opening of trading on September 23, 2026.
The Company intends to request that the Nasdaq Listing and Hearing Review Council review the Panel Decision pursuant to Nasdaq Listing Rule 5820. A request for review by the Listing and Hearing Review Council will not stay the suspension of trading in, or the delisting of, the Company’s securities.
The Company issued a press release on September 26, 2026, announcing the receipt of the Panel Decision. A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
Forward-Looking Statements
This Form 6-K contains forward-looking statements that involve risks and uncertainties. The risks and uncertainties involved include the Company’s ability to maintain the listing of its securities on Nasdaq, the outcome of the Company’s anticipated request for review by the Nasdaq Listing and Hearing Review Council, market conditions, and other risks detailed from time to time in the Company’s periodic reports and other filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on forward-looking statements, which are based on the Company’s current expectations and assumptions and speak only as of the date of this Form 6-K. The Company does not intend to revise or update any forward-looking statement in this Form 6-K as a result of new information, future events or otherwise, except as required by law.
Financial Statements and Exhibits
The following exhibits are being filed herewith:
| Exhibit No. | Description | |
| 99.1 | Press Release |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| PLATINUM ANALYTICS CAYMAN LIMITED | ||
| Date: September 28, 2026 | By: | /s/ Huiyi Zheng |
| Name: | Huiyi Zheng | |
| Title: | Chief Executive Officer | |
Exhibit 99.1
Platinum Analytics Cayman Limited Announces Nasdaq Hearings Panel Delisting Decision
Singapore, September 26, 2026 — Platinum Analytics Cayman Limited (the “Company” or “PLTS”), a software developer specializing in the provision of FX trading software development solutions, data analytics solutions and technology development solutions to financial institutions with a strategic focus on serving Asia and other emergent markets, today announced that on September 21, 2026, it received a notice from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the Nasdaq Hearings Panel (the “Panel”) had denied the Company’s request to reinstate trading on Nasdaq and determined to delist the Company’s securities (the “Panel Decision”).
As previously disclosed, the Company received a Staff Delisting Determination from Nasdaq’s Listing Qualifications Department pursuant to Nasdaq Listing Rule IM-5101-4. The Company appealed that determination by requesting a hearing before the Panel pursuant to Nasdaq Listing Rule 5815. Following a hearing held on August 18, 2026, the Panel affirmed Nasdaq Staff’s determination to delist the Company’s securities.
The Panel based its decision principally on trading activity indicative of potential manipulation and the Company’s failure to demonstrate sufficient liquidity to support a fair and orderly market. However, the Panel was unpersuaded by Staff’s arguments concerning the Company’s professional advisors, finding that their prior involvement with other companies that had experienced trading halts, anomalous trading or FINRA enforcement matters did not, standing alone, constitute valid grounds for delisting. The Panel also found that the residence of the Company’s chief executive officer in Singapore did not support delisting. Trading in the Company’s securities was suspended at the opening of trading on September 23, 2026.
The Company intends to request that the Nasdaq Listing and Hearing Review Council review the Panel Decision pursuant to Nasdaq Listing Rule 5820. A request for review by the Listing and Hearing Review Council will not stay the suspension of trading in, or the delisting of, the Company’s securities. There can be no assurance that the Company’s request for review will be successful or that trading in the Company’s securities will resume on Nasdaq.
About Platinum Analytics Cayman Limited
Established in 2017 in Singapore, Platinum Analytics Cayman Limited, through its wholly-owned Singapore subsidiary, Platinum Analytics Singapore Pte. Ltd., develops FX trading software, data analytics, and technology solutions for financial institutions, focusing on Asia and other emergent markets. Supported by the Monetary Authority of Singapore (MAS), it addresses rapid growth in currency trade volumes, complex cross-border transactions, and emerging market volatility.
The Company operates the Platinum ECN spot FX trading platform for institutional and enterprise clients. Its products – Platinum AI, Platinum ECN, and Platinum Smart Trade – deliver scalable, flexible, AI-driven, low-latency trading and analytics. For more information, please visit: www.platinumanalytics.net.
Forward-Looking Statement
This press release contains forward-looking statements that involve risks and uncertainties. The risks and uncertainties involved include the Company’s ability to regain compliance with Nasdaq’s rules for continued listing, market conditions, and other risks detailed from time to time in the Company’s periodic reports and other filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on forward-looking statements, which are based on the Company’s current expectations and assumptions and speak only as of the date of this press release. The Company does not intend to revise or update any forward-looking statement in this press release as a result of new information, future events or otherwise, except as required by law.
For more information, please contact:
International Elite Capital
Annabelle Zhang
Email: management@iecapitalusa.com
646-866-7928