Friday, February 21, 2014

Equity Trader Alert #2014 - 17
Limit Up/Limit Down Implementation Reminder


  • Industry Announcement

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UPDATED 2/23/2014: Implementation for NASDAQ-listed securities only has been delayed. Refer to Equity Trader Alert #2014-18.

The Limit Up/Limit Down (LULD) NMS Plan implementation for Phase II(B) will include the last 15 minutes of regular trading beginning this Monday, February 24, 2014.

Starting this Monday, February 24, 2014, the LULD bands will begin at 9:30 a.m., E.T. and end at 4:00 p.m., E.T. each regular trading day. The addition of the last 15 minutes of trading will apply to all NMS Stocks.


To accommodate changes associated with the addition of the close period in the NMS Plan, NASDAQ has filed with the SEC rule changes to reflect behaviors near the close and our closing processes as it relates specifically to LULD. Final testing to prepare for these changes is being offered again Saturday, February 22, 2014. Refer to Equity Trader Alert #2014-3. These changes outlined in NASDAQ's rule filing will be effective with the NMS Plan this Monday February 24, 2014.

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