Beginning on Monday, December 24, 2007, amended NYSE Rule 15 will require a specialist to publish a pre-opening price indication whenever the specialist, is arranging the opening transaction in a subject security, and anticipates that the price of the opening transaction will be at a price which is different from the previous day’s consolidated closing price by more than the “applicable price change.”
The “applicable price change” will be $0.50 where the consolidated closing price of a subject security on the Exchange is under $100 and $1.00 where the consolidated closing price of a subject security on the Exchange is equal to or greater than 100.
The pre-opening price indication will include the security and the price range within which the specialist anticipates executing the opening transaction.
The pre-opening indications will be published to Floor broker handheld devices and overhead displays on the Floor (“FIDs”), and will be made available to subscribers of NYSE Market Data Alerts.
Category: Operations
