Important update regarding NYSE trading in Washington Mutual Inc. (WM) and Washington Mutual Preferred K (WM PRK) today, Friday, 26 September 08.
Consistent with Reg NMS, NYSE will open WM and WM PRK for a single transaction, then immediately place it in an Operational Trading Halt under the NYSE Sub-penny Pricing rule.
Firms should cancel any orders in WM and WM PRK that are not executed in the Opening transaction. After the close of business today, NYSE will cancel any unexecuted orders in WM and WM PRK.
Beginning Monday, 29 September 08, trading in WM and WM PRK will continue at NYSE Arca and other markets. Orders routed to the NYSE will be routed to NYSE Arca, with NYSE Arca pricing applied.
WM and WM PRK continue to be listed on the NYSE.
For additional information about NYSE Sub-penny Trading Rules please see:
Information Memo 07-22
Information Memo 07-89
NYSE Rule File # SR-NYSE-2007-25
Category: Securities
