Search Results for keywords:"Rule 7.35C"

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Search Results: keywords:"Rule 7.35C"

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2021-01135 — Self-Regulatory Organizations; New York Stock Exchange LLC, Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Make Permanent Commentaries to Rule 7.35A and Commentaries to Rule 7.35B and Make Related Changes to Rules 7.32, 7.35C, 46B, and 47
January 21, 2021
Type:Notice
Citation:86 FR 6403
Reading Time:about 2 minutes
The New York Stock Exchange (NYSE) submitted a request to the Securities and Exchange Commission (SEC) to make certain temporary rules permanent. These involve procedures for handling specific types of stock market auctions and making related changes to other trading rules. The SEC is taking additional time to examine this proposed rule change, extending the deadline to March 1, 2021, to decide whether to approve or disapprove it. No public comments have been submitted regarding this proposal.
Simple Explanation
The New York Stock Exchange wants to keep some temporary rules forever for how it handles certain stock market activities, and the Securities and Exchange Commission is taking extra time until March 1, 2021, to decide if this is a good idea. Right now, no one has said anything for or against these changes.
2021-03545 — Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Rule 7.35C To Change the Auction Reference Price for Exchange-Facilitated Core Open Auctions
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February 23, 2021
Type:Notice
Citation:86 FR 11024
Reading Time:about 15 minutes
The Securities and Exchange Commission is considering a proposed rule change by the New York Stock Exchange (NYSE) that aims to amend Rule 7.35C. This change would alter the way the Auction Reference Price is determined for Core Open Auctions, aligning it with the methods used by NYSE's affiliates, NYSE Arca, and NYSE American. The modification seeks to minimize the likelihood of these auctions being subject to price collars, particularly during periods of significant market volatility. The proposed rule change has been filed and is available for public comment, with the aim of promoting a smoother operation of market openings.
Simple Explanation
The person in charge of watching over how people buy and sell stocks (the Securities and Exchange Commission) is looking at a new idea from a big stock market (the New York Stock Exchange). They want to change how a special price is decided when trading starts for the day, so it matches what their friends do and avoids problems if things get too crazy.

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