📈NYSE Proposes Amendments to Auction Reference Price Calculations
Self-Regulatory Organizations; NYSE American LLC; Notice of Filing of Proposed Change To Amend Rule 7.35E
Summary
The NYSE American LLC has proposed changes to Rule 7.35E to enhance the calculation of the Auction Reference Price for various auctions. This aims to improve the accuracy of pricing by reflecting more recent trading activity, thus promoting greater transparency in the auction process and the overall marketplace. The proposed amendments are set to be implemented by the end of 2025, pending SEC approval.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed rule changes to Rule 7.35E regarding the calculation of the Auction Reference Price have significant implications for business owners and executives involved in trading, as they aim to enhance transparency and potentially improve liquidity in auctions. These changes can lead to more accurate pricing, impacting trading strategies and investment decisions.