SEC Approves NYSE Plan To Delay End-Of-Day Material News

Law360, New York (December 5, 2017, 3:42 PM EST) -- The U.S. Securities and Exchange Commission on Monday approved a New York Stock Exchange plan to bar companies from releasing end-of-day material news for up to five minutes after markets close, a move intended to prevent price discrepancies and market confusion.

The NYSE submitted the proposal in August, saying it will end confusion that occurs when a listed company releases market-moving information after NYSE trading has stopped but before market makers finish their closing auctions, a process than can take up to five minutes. The new...
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