Trades in about 1,600 Nasdaq-listed stocks were canceled Friday morning after regulators discovered pricing errors generated by a member firm's computer system.
The trades, most in thinly traded issues, occurred over a 20-minute period just prior to and just after the 9:30 a.m. EDT open, starting at 9:19 a.m. The stocks were bought and sold on electronic crossing networks that match buyers and sellers both during and outside of regular market hours. A list of the securities involved was compiled by the market and can be downloaded from the Nasdaq's Web site. According to a release, the problem involved trades that occurred at prices that were too far above or below the previous price. Trades in the named stocks that occurred at prices more than 15% above or below the prior day's close -- unless the moves were justified by news -- will be canceled, the Nasdaq said. The trades were reviewed according to Nasdaq rule 11890, which allows the market regulator to cancel trades that were "clearly erroneous.">To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
ETF Profits:
Get money-making ideas from the hottest investment vehicle on the planet. Our experts show you how to play various ETF sectors to help pump-up your portfolio. Learn More
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 12,883.95 | 1,349.96 | 2,915.86 | 19.75 |
Oil *
117.78
|
|
UP
5.75 |
UP
2.91 |
UP
11.78 |
UP
0.09 |
10 Yr
1.98%
SPDR Gold
168.50
|
|
+0.04%
|
+0.22%
|
+0.41%
|
+0.46%
|
Data delayed 20 minutes |
Connect with TheStreet