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Trading at NYSE/Trading Information

Trading Information

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Clearly Erroneous Execution (CEE)

Member that receive an execution on any of the NYSE Group Equities or Options markets that they consider to be erroneous may request a review of the transaction(s):

  • Review requests must be submitted through the Customer Submission for Clearly Erroneous Execution Review Form
  • If the website is not accessible, members may submit a request via email
  • The request must be submitted within thirty (30) minutes of the execution time with the exception of Non Customer orders on American Options Arca Options which must be (15) minutes.
  • Once the request has been received, a review of the execution(s) will be conducted, and a determination will be made as to whether or not the execution(s) submitted for request are clearly erroneous pursuant to exchange rules.

Limit Up / Limit Down (LULD)

On May 31, 2012, the SEC approved, on a pilot basis, a National Market System Plan, known as the Limit Up/Limit Down ("LULD") Plan, to address extraordinary market volatility. The Plan was approved as a permanent rule on April 11, 2019.

The Plan is designed to prevent trades in NMS Stocks from occurring outside specified price bands, which are set at a percentage level above and below the average reference price of a security over the preceding five-minute period. The percentage level is determined by a security’s designation as a Tier 1 or Tier 2 security. Tier 1 comprises all securities in the S&P 500, the Russell 1000 and select Exchange Traded Products (ETPs). Tier 2 comprises all other NMS securities, except for rights and warrants, which are specifically excluded from coverage. The Plan applies during regular trading hours of 9:30 a.m. ET - 4:00 p.m. ET.

Market Wide Circuit Breaker (MWCB)

NYSE equities and options exchanges have procedures for coordinated crossmarket trading halts if a severe market price decline reaches levels that may exhaust market liquidity. These procedures, known as Market-Wide Circuit Breakers (“MWCB”), temporarily halt trading or, under extreme circumstances, close the markets before the normal close of the trading session. MWCBs are determined by a single-day decrease in the S&P 500 Index.

A cross-market trading halt can be triggered at three circuit breaker thresholds that measure a decrease against the prior day’s closing price of the S&P 500 Index -- 7% (Level 1), 13% (Level 2), and 20% (Level 3) (See NYSE, NYSE American and NYSE Arca Rule 7.12).

Market-Wide Circuit Breakers FAQ

A study of the operation and design of the MWCB mechanism during the market events of March 2020.

Authorized Trader Submission

NYSE Group
NYSE Group ETP/OTP holders are required to submit via email any changes to their list of personnel authorized to conduct business over the phone with the NYSE Trading Operations Desk. Services affected include oral requests for:

  • Order cancellations and bulk cancellations
  • Firm or line ID execution reports
  • Order status and order history
  • Any other firm-sensitive information.

online ATS FORM

In the event that the website is not accessible, customers may submit an email request using the Authorized Trader Submission Form.

Options Penny Interval Program

NYSE American Options and NYSE Arca Options
NYSE American Options and NYSE Arca Option (“NYSE Options”) adopted the Program on July 1, 2020.

Per the Program, NYSE Options, may add a newly listed option class to the Program provided that:

  1. it is among the 300 most actively traded multiply listed option classes, as ranked by National Cleared Volume at OCC, in its first full calendar month of trading (issues added under this criteria are added first business day after qualifying); or
  2. it is among the 75 most actively traded multiply listed option classes, as ranked by National Cleared Volume at OCC, in the past six full calendar months of trading (issues added under this criteria are added the second month after qualifying), and
  3. the underlying security is priced below $200, or the underlying index is at an index level below $200.