New York Stock Exchange LLC will begin prohibiting listed companies from issuing material news until the stock's official closing price is posted or until five minutes have passed from the venue's closing time.
The change was made to reduce investor confusion that could result if the company's news is issued before the completion of the New York Exchange's closing auction but while trading is still occurring at other markets.
The rule change was approved by the Securities and Exchange Commission.
The NYSE is a unit of Intercontinental Exchange Inc.
