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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Smiling Bob who wrote (247068)5/6/2010 9:48:59 PM
From: Les HRead Replies (3) of 306849
 
Nasdaq Cancels Trades In 287 Stocks; Says No Technical Issues
By Eric Savitz, Barron's

Nasdaq (NDAQ) this afternoon said it will cancel unusual trades during this afternoon’s weird market meltdown in 287 Nasdaq and NYSE-listed stocks. You can find the list of affected stocks here.

Nasdaq said that the cancellations apply to all trades executed between 2:40 and 3 p.m. that were 60% or more off the consolidated last print in the security at 2:40 or immediately prior. Nasdaq said that the decision, taken in consultation with other exchanges, cannot be appealed.

The exchange also said that it had no technology or system issues associated with the unusual trading in the stock market between 2 p.m. and 3 p.m. on Thursday. Nasdaq said its market “operated continuously and its close process ran successfully.”

The exchange also said there is no indication that a Nasdaq market participant experienced a failure in connection with “this event.”

blogs.barrons.com
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