Sidebar

Site Tools






nyse_mkt

NYSE MKT (formerly AMEX)

NYSE MKT is the leading capital market for small cap companies within NYSE Euronext.

Homepage

Currency: US Dollar (USD)

Holidays and Trading Hours

Trading Summary

The American Stock Exchange merged with the New York Stock Exchange in 2008. Post-merger, the Amex equities business was branded NYSE Alternext US. As part of the re-branding exercise, NYSE Alternext US was renamed NYSE Amex Equities. In 2012, NYSE Amex Equities re-branded to NYSE MKT LLC.

Order Types

Note: not all order types are available for every gateway.

  • Inside Limit Buy/Sell→ShortSell (Day)
  • Limit Buy/Sell→ShortSell (Day/FOK/IOC)
  • Limit-on-Close (LOC) & Limit-on-Open (LOO) Buy/Sell→ShortSell
  • Market Buy/Sell→ShortSell (Day/FOK)
  • Market-on-Close (MOC) & Market-on-Open (MOO) Buy/Sell→ShortSell
  • Pegged Midpoint/Market/Primary Buy/Sell→ShortSell (Day)
  • Reserve Limit Buy/Sell→ShortSell (Day)
  • Stop Limit Buy/Sell→ShortSell (Day)

Basic Market Rules

  • Lot Size: 100 shares. See NYSE MKT Rule 55.
  • Tick Size: less than $1.00, 0.0001; $1.00 or greater, 0.01. See NYSE MKT Rule 62.
  • Circuit Breakers: between 9:45 am and 3:35 pm, or in the case of an early close, 25 minutes before the closing of trading, if the price of a security moved by a percentage specified below within a five-minute period, trading in that security shall immediately pause on the exchange for a period of 5 minutes:
    • a) 10% or more with respect to securities included in the S&P 500 Index, Russell 1000 Index, and the Invesco PowerShares QQQ exchange traded fund;
    • b) 30% or more with respect to all Tier 2 NMS Stocks with a price equal to or greater than $1; and
    • c) 50% or more with respect to all Tier 2 NMS Stocks with a price less than $1.

The determination that the price of a stock is equal to or greater than $1 in b), or less than $1 in c), shall be based on the closing price on the previous trading day, or, if no closing price exists, the last sale reported to the Consolidated Tape on the previous trading day. See Rule 80C.

  • Short Sale Rules: short selling is allowed but must be declared in the order. See Rule 440B.

For more information, see the Rules and Interpretations page.

Auction Mechanisms

Open Timeline

7:30 am

  • CCG (Common Customer Gateway) opens for order entry
  • Only NYSE and NYSE MKT-listed names can participate in the opening auction
  • Orders can be entered and cancelled until the security is opened by the DMM, even if order entry or cancellation occurs after 9:30 am
  • The NYSE Auction Process allows for all stocks, particularly IPOs or Listed Companies with news announcements, to open later than 9:30 am to ensure accurate pricing

8:30 am – 9:00 am

  • Imbalance and Paired-off information is disseminated every 5 minutes for each security

9:00 am – 9:20 am

  • Imbalance and Paired-off information is disseminated every 1 minute for each security

9:20 am – 9:35 am or Open of each security whichever occurs first

  • Imbalance and Paired-off information is disseminated every 15 seconds for each security
  • Beginning at 9:28 am, Indicative Opening Price information is added to the Imbalance and Paired-off data

9:30 am

  • DMMs begin to open each security
  • Securities that meet predetermined parameters may be opened automatically
  • Securities without crossing interest will automatically post an opening quote

Closing Order Types

Market on Close (MOC)

  • Can be entered until 3:45 pm
  • After 3:45 pm, can be entered only on the contraside of a Regulatory (123C) Public Imbalance until 4:00 pm

Limit on Close (LOC)

  • Can be entered until 3:45 pm
  • After 3:45 pm, can be entered only on the contraside of a Regulatory (123C) Public Imbalance until 4:00 pm

Closing Offset Order (CO)

  • Limit Order Only
  • No validation against any imbalance publication (any size, price, or side allowed)
  • Yields to all other interest in closing auction with the exception of at priced G-Orders
  • Allocation to CO orders based on time priority against other COs
  • Follows same cancellation rules as MOC/LOC
  • Executes only against the opposite side of an imbalance; never adds to an imbalance
  • Can only better the closing price
  • Can be used to offset any imbalance that exists before the closing print

Closing Timeline

7:30 am

  • CCG opens for order entry

3:45 pm

  • Cutoff time for MOC/LOC order entry; only Regulatory publication offsetting orders afterwards
  • Systematic publication of MOC/LOC Regulatory Imbalance is released

3:45 pm – 3:59:55 pm

  • Informational Imbalance publication is disseminated every 5 seconds
  • Includes the Paired-off quantity, Order Imbalance, Closing Only Interest Price, and Indicative Clearing Price

3:55 pm

  • d-Quotes and pegged e-quotes to be included in the Indicative Clearing Price dissemination

3:45 pm – 3:58 pm

  • Only MOC/LOCs orders that are documented errors may be cancelled

3:58 pm

  • No cancels after this point, except as noted in Rule 123C(8)(a)(ii)

4:00 pm

  • Closing Auction begins
  • Securities that meet predetermined parameters may be closed automatically

Financial News/Research

See Also

nyse_mkt.txt · Last modified: 2017/03/27 08:57 by maya