SEC Modifies and Extends Pilot Program for National Market System Plan to Address Extraordinary Market Volatility
Friday, April 29, 2016

The Securities and Exchange Commission has issued an order that modifies and extends the National Market System (NMS) Plan to Address Extraordinary Market Volatility. Specifically, the SEC has approved the modification of the definition of “opening price” in instances in which the primary listing exchange opens with quotations. In these instances, the opening price will be the closing price of the NMS stock on the primary listing exchange on the previous trading day, or if no such closing price exists, the last sale on the primary listing exchange reported by the securities information processor.

The SEC also has approved the extension of the pilot period of the plan from April 22, 2016 to April 21, 2017.

The SEC’s order is available here.

 

NLR Logo

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up to receive our free e-Newsbulletins

 

Sign Up for e-NewsBulletins