Pending SEC approval, the NYSE will introduce - on a date to be announced - a new Closing Offset (“CO”) order that will participate in the closing trade on the opposite side of any imbalance. The introduction of the CO order is part of a comprehensive change to the Closing procedures described in the appended rule filings, which include changes to the time parameters governing submission and cancellation of MOC/LOC orders.
Member Firms are being advised in advance in order to take advantage of this new closing order type. A future notification will provide further information regarding testing opportunities and implementation dates.
Closing Offset Order Information Memo
Additional information for the closing procedure changes may be found using the following links:
NYSE Rule Filing
Category: Product News
