NYSE and NYSE Amex cash market customers should be aware that an industry-wide decision to address potentially erroneous pricing from today's trading has been initiated.
Note that:
-The specific timeframe addresses trade executions between 2:40 p.m. ET and 3:00 p.m. ET
-The reference price is the consolidated last sale at or before 2:40 p.m ET
-Trades executed with a price deviation of greater than and less than 60 percent from the reference price will be busted.
This decision may not be appealed.
Updates will follow tomorrow, May 7, 2010.
Category: Operations