Thursday, May 06, 2010
Equity Trader Alert #2010 - 30
NASDAQ OMX Provides Update on Securities Affected by Market-Wide Clearly Erroneous Ruling
- Transaction Services U.S. Market Sales at +1 800 846 0477
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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