Nyse Rule 48
September 6, 2011 by staff
Article 48 allows designated market makers on the NYSE to refrain from disseminating indications of prices before the market opening. The procedure makes it easier and faster to open stocks on that trade could be difficult.
NYSE invoked the rule on multiple occasions last month amid the turbulent conditions in the markets, a time when the Dow Jones Industrial Average scored four straight points to 400 swings the first time in its 115 year history.
Before August, Grand Council of the parent NYSE Euronext (NYX) last bring section 48 into force on 27 January.
On Tuesday, U.S. stocks are about to open sharply lower on sharp falls in European markets and fears of a global recession are driving investors out of assets seen as risky.
Dow futures were recently by 226 points, while the Standard & Poor 500-stock index futures fell 27 points.
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