NYSE Invokes Rule 48 To Pre-Empt Selling Panic
Tyler Durden on 01/27/2015 09:10 -0500
The status quo must be maintained…
- *NYSE SAYS RULE 48 INVOKED FOR MARKET OPEN
- *NYSE SAYS MANDATORY OPENING INDICATIONS ARE NOT REQUIRED
And what better excuse to stall the opening plunge implied by futures than the “blizzard” which never was… The last time this was invoked was June 2012 (amid a dramatic drop in pre-open futures) and Sept 2011 amid the chaotic 400-point swings in The Dow. Funny they do not use this “Rule” when futures indicate massive upside opens?
Via NYSE:
Rule 48. Exemptive Relief — Extreme Market Volatility Condition
(a) In the event that extremely high market volatility is likely to have a Floor-wide impact on
http://www.zerohedge.com/news/2015-01-27/nyse-invokes-rule-48-pre-empt-selling-panic