Rule 48
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Rule 48, also known as Exemptive Relief — Extreme Market Volatility Condition,[1] is a mechanism used by the New York Stock Exchange to ease market opening while volatility is high. It may have the effect of pre-empting trading at disrupted prices,[2] as the designated market makers do not have to disseminate price indications prior to the opening bell.[3][4]
History
Rule 48 was approved by the U.S. Securities and Exchange Commission on December 6, 2007.[2][4] It was invoked 77 times from 2008 to September 2015, but only used a few times.[2] For example, it was used on January 22, 2008 and May 20, 2010,[2][4] as well as September 1, 2015.[5]
References
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- ↑ 2.0 2.1 2.2 2.3 Lua error in package.lua at line 80: module 'strict' not found.
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