Rule 48

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]

gollark: It doesn't have a package manager but you have to use libraries somehow.
gollark: Yes. It's better than C(++) dependency management, which is pure evil.
gollark: https://crates.io
gollark: Actually, most libraries for it are *not* bindings.
gollark: Yes, I know, I have used/do use Rust.

References
  1. "Dealings and Settlements (Rules 45—299C): Delivery Dates on Exchange Contracts". New York Stock Exchange. Retrieved September 3, 2015.
  2. Lenzo, Krysia; Koba, Mark. "The little-used NYSE rule that can tame a wild market". CNBC. Retrieved September 3, 2015.
  3. Watts, William L. (September 1, 2015). "NYSE invokes Rule 48 in effort to smooth market open". MarketWatch. Retrieved September 3, 2015.
  4. Phillips, Matt (May 20, 2010). "Exactly What is 'Rule 48′". MarketBeat. Retrieved September 3, 2015.
  5. Wells, Nicholas. "How to trade the NYSE's Rule 48". CNBC. Retrieved September 3, 2015.


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