Disclosure lag
45-day
15-day
same-day
45-day lag — the news is public before the feed fires. The copy signal arrives already priced.
The congressional disclosure copy loop and its 45-day lag
Member or spouse
trades a security
1
STOCK Act window
up to 45 days to public filing
2
file by day 45
Tracker feed
download · parse · score
3
Retail user
sees filing, acts late
4
Whole market
news already priced
prior month's info
Whole market
news not yet public
edge still quiet
5
Honest read
use as sentiment / history,
not a copy signal
Same-day filing
edge survives —
copy keeps its signal
6
copy loop
lag 45 days
edge