Thursday, May 06, 2010

Equity Trader Alert #2010 - 30
NASDAQ OMX Provides Update on Securities Affected by Market-Wide Clearly Erroneous Ruling

Markets Impacted:

Contact Information:

What you need to know:

  • Updated: NASDAQ OMX has updated the list of affected securities and their break points. Please refer to the updated list.
  • NASDAQ OMXSM reported that we had no technology or system issues associated with the trading that occurred between 2:00 p.m. and 3:00 p.m., ET, today, Thursday, May 6, 2010.
  • Both NASDAQ® and NASDAQ OMX BXSM (BXSM) operated continuously and the NASDAQ Closing Cross ran successfully.
  • There is no indication at this time that a NASDAQ market participant experienced a technological failure in connection with this event. There is also no indication that any member firm had a trade error on any NASDAQ OMX system.
  • We have coordinated a process among U.S. Exchanges and therefore, pursuant to NASDAQ Rule 11890(b), NASDAQ, on its own motion, will cancel all trades executed between 14:40:00 and 15:00:00 greater than or less than 60% away from the consolidated last print in that security at 14:40:00 or immediately prior.
  • This decision cannot be appealed. NASDAQ OMX has coordinated this decision with all other UTP Exchanges.
  • NASDAQ will be canceling trades on the participant’s behalf.
  • Refer to the list of affected securities and the break points on the NASDAQ OMX Trader® website.

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About the NASDAQ OMX Group:
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with more than 3,600 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit