Starting December 6, 2010 the NYSE Amex will no longer accept Market orders or Stop orders for its Nasdaq traded securities under the UTP plan. The purpose of this change is to protect investors from erroneous executions that sometimes result from unpriced orders entering the market.
The NYSE market and NYSE Amex market will continue to accept Market orders and Stop orders because of certain NYSE patented Liquidity Replenishment Point (LRP) methodologies implemented in those markets, which protect investors from, among other things, the occasional unintended consequence of unpriced orders.
Please contact Robert Airo at rairo@nyx.com or 212-656-5663 with any questions.
Category: NYSE Amex
