(Reuters) – The New York Stock Exchange filed a proposal on Tuesday to delay the release of important company news immediately after official closing time to reduce investor confusion and market disruption.
If the proposal passes, listed companies will have to delay news releases till 4:05 p.m., or until the time the NYSE publishes the stock’s closing price for the day, whichever comes first.
Market - Makers - DMMs - Closing - Auctions
Designated market makers (DMMs) usually complete closing auctions for securities assigned to them within five minutes of the official closing time, the exchange said.
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