The New York Stock Exchange has rescheduled the introduction of enhanced MOC/LOC handling for March 9, 2009. In late December the NYSE postponed the original launch date to give all firms the ability to take advantage of the service. The NYSE will disable the current MOC and LOC blocks that member firms have previously added to their individual mnemonics the weekend prior to the March 9 launch.
Please note that there will be a change in how the Exchange Systems will handle cancel requests. Based on client feedback the Exchange will block all MOC/LOC cancel requests beginning at 3:50PM on all MOC/LOC orders entered before 3:40 PM and offsetting orders for previously published imbalances entered after 3:40 PM. Previously the Exchange Systems were going to begin blocking all cancel requests at 3:40 PM.
Attached is an updated memo highlighting the specifics of how the Exchange Systems will now handle MOC/LOC orders
Please note that there will be a change in how the Exchange Systems will handle cancel requests. Based on client feedback the Exchange will block all MOC/LOC cancel requests beginning at 3:50PM on all MOC/LOC orders entered before 3:40 PM and offsetting orders for previously published imbalances entered after 3:40 PM. Previously the Exchange Systems were going to begin blocking all cancel requests at 3:40 PM.
Attached is an updated memo highlighting the specifics of how the Exchange Systems will now handle MOC/LOC orders
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