Anonymous Coward User ID: 39795679 United States 08/24/2015 09:15 AM Report Abusive Post Report Copyright Violation | NYSE evokes rule 48 at todays open. If you’re interested. Here’s the text of “Rule 48,” which the NYSE invoked to smooth the open today. Here’s the Cliffs Notes version: (a) In the event that extremely high market volatility is likely to have a Floor-wide impact on the ability of [Designated Market Makers] to arrange for the fair and orderly opening, reopening following a market-wide halt of trading at the Exchange, or closing of trading at the Exchange and that absent relief, the operation of the Exchange is likely to be impaired, a qualified Exchange officer may declare an extreme market volatility condition with respect to trading on or through the facilities of the Exchange. (b) In the event that an extreme market volatility condition is declared with respect to trading on or through the facilities of the Exchange, a qualified Exchange officer shall be empowered to temporarily suspend at the opening of trading or reopening of trading following a market-wide trading halt: (i) the need for prior Floor Official or prior NYSE Floor operations approval to open or reopen a security at the Exchange (Rules 123D(1) and 79A.30); and/or (ii) applicable requirements to make pre-opening indications in a security (Rules 15 and 123D(1)). |
Anonymous Coward User ID: 42155558 United States 08/24/2015 09:19 AM Report Abusive Post Report Copyright Violation | Re: NYSE evokes rule 48 at todays open. Cnbc dow mini -833
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Flying Elvii
User ID: 69926142 United States 08/24/2015 09:25 AM
Report Abusive Post Report Copyright Violation | Re: NYSE evokes rule 48 at todays open. This a BIG F'in DEAL, folks....
The rule was approved by the Securities and Exchange Commission on Dec. 6, 2007 and has been used rarely since then.
That they are invoking it BEFORE the exchanges opens is also a really big deal.
PIN THIS!!!! |
Anonymous Coward (OP) User ID: 39795679 United States 08/24/2015 09:35 AM Report Abusive Post Report Copyright Violation | Re: NYSE evokes rule 48 at todays open. LOL, I guess it didn't work |
Anonymous Coward (OP) User ID: 39795679 United States 08/24/2015 09:36 AM Report Abusive Post Report Copyright Violation | Re: NYSE evokes rule 48 at todays open. Or it did and it's not down -5000 |
Anonymous Coward User ID: 69892756 United States 08/24/2015 02:01 PM Report Abusive Post Report Copyright Violation | Re: NYSE evokes rule 48 at todays open. Is that the same as the -7% circuit breaker of the DOW, but before the market opens? |
Anonymous Coward User ID: 69155814 Australia 08/24/2015 02:03 PM Report Abusive Post Report Copyright Violation | Re: NYSE evokes rule 48 at todays open. Didn't like the preview so they had to have a do over. |
ar-15 nut
User ID: 44044090 United States 08/24/2015 02:06 PM Report Abusive Post Report Copyright Violation | Re: NYSE evokes rule 48 at todays open. We are a REPUBLIC.If we can keep it MORAN! A pissed off American Veteran! |
Anonymous Coward User ID: 61629439 United States 08/24/2015 02:12 PM Report Abusive Post Report Copyright Violation | Re: NYSE evokes rule 48 at todays open. This a BIG F'in DEAL, folks....
The rule was approved by the Securities and Exchange Commission on Dec. 6, 2007 and has been used rarely since then.
That they are invoking it BEFORE the exchanges opens is also a really big deal.
PIN THIS!!!!
Quoting: Flying Elvii Pre-market trading is more of a factor now than in 2007. The pre-market was strongly down, so the main session was paused. |