# 2026-22956: NYSE Tweaks When Traders See IPO Auction Imbalance Information

2026-22956, Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rules 7.35 and 7.35A, is a Federal Register notice from Securities and Exchange Commission published 2026-11-12, effective The Exchange is prepared to implement the proposed rule change no later than the first quarter of 2027.; PRIA reads it as touching household money (as of 2026-11-12).

- Canonical: https://policyrisk.com/federal-register/2026-22956
- As of: 2026-11-12
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2026-22956
- Title: Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rules 7.35 and 7.35A
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 91 FR 72931
- Published: 2026-11-12
- Effective: The Exchange is prepared to implement the proposed rule change no later than the first quarter of 2027.
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-11-12

## In one line

NYSE Tweaks When Traders See IPO Auction Imbalance Information

## Summary

The New York Stock Exchange is changing when it shares auction imbalance info for IPOs. Starting soon, this info will be released no earlier than 8:00 a.m. ET and no later than 10:00 a.m. ET or when the market maker gives the first update. This tweak helps traders get clearer, timely info during IPO auctions without changing any fees or costs.

## Effects PRIA read

- IPO auction imbalance info timing change: benefit, low. For IPO Auctions, the Exchange will begin publishing Auction Imbalance Information at the later of (A) 8:00 a.m. Eastern Time, or (B) the earlier of (i) the time the Designated Market Maker (DMM) publishes the first pre-opening indication under Rule 7.35A(d) or (ii) 10:00 a.m. ET. The content of th…
- Opening Reference Price defined for IPOs: benefit, low. The Exchange amends the definition of "Opening Reference Price" so that for an IPO that has not had its IPO Auction, the Opening Reference Price is the security's offering price. This update is intended to ensure the Imbalance Reference Price calculation works for IPOs once Auction Imbalance Inform…

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## Sources
- [2026-22956 on federalregister.gov](https://www.federalregister.gov/documents/2026/11/12/2026-22956/self-regulatory-organizations-new-york-stock-exchange-llc-notice-of-filing-and-immediate)
- [2026-22956 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-11-12/pdf/2026-22956.pdf)

## Related
- [Previous: 2026-22955, Troy R. Lehman, D.O.; Decision and Order](https://policyrisk.com/federal-register/2026-22955)
- [Next: 2026-22957, Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate…](https://policyrisk.com/federal-register/2026-22957)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2026-22956 (as of 2026-11-12).