The Securities and Exchange Commission (SEC) is reviewing and seeking public feedback on a proposed rule change by the New York Stock Exchange (NYSE). This proposal aims to amend Rule 7.35C to allow NYSE to facilitate a Trading Halt Auction if a security doesn't reopen by 3:30 p.m. after a market-wide circuit breaker halt, known as an "MWCB Halt." The proposal includes changes such as widening the price range for these reopening auctions and allowing certain market maker interests to remain active. The SEC is also considering whether these changes meet the legal standards to ensure fair and orderly markets and is inviting comments from the public by March 10, 2021.
Simple Explanation
The big agency in charge of keeping the stock market fair, called the SEC, is checking on some new rules the New York Stock Exchange wants to try out. These rules are about what to do when the market has to take a break because everything's going a little crazy, like making sure they can start trading again before it gets too late in the day.