First, the market embraced order speed bumps.
Now, if the New York Stock Exchange has its way, late day corporate new announcements could also be faced with a time delay.
Last week the the New York Stock Exchange proposed a time delay to the late-afternoon release of company information to the Securities and Exchange Commission, arguing that announcements too close to the closing bell cause “market disruption and investor confusion,” according to the Wall Street Journal.
The proposed change would have listed companies wait until 4:05 p.m. ET or whenever the exchange publishes their stock’s closing prices for the day – whichever comes first.
SEC approval is needed for any change to go into effect.
