NYSE Board and Rule
NEW YORK, Oct. 5, 1998 — The New York Stock Board of today the rule index , or “”, the set 50-point the to track the of the Dow Jones (DJIA).
The Board also the “” ,which when the S&P 500 drops 12- from the day’. When inlive stock, the rule to a file for five and bans for the rest of the day the entry of stop or stop limit , for of 2, or less for .
Both will go into by the and .
index of the S&P 500 Stock Price Index on a 50-point in the DJIA from the day’s close. These must be as buy minus plus to . The curbs are if the DJIA moves back to or 25 of the day's close.
The will be as two of the value of the DJIA for the last month of the . The two value will be down to 10 , and be as :
were first in July 1990 in to that index may have large . When ,the an two move inthe DJIA. The takes into the in the DJIA over the past few years. If innisekoi live action, the for 4th 1998 would be 150 .
for ,were 23 times on 22 days in 1990; 16 times in 1992; nine times in 1993; 30 times on 28 days in 1994; 29 times on 28 days in 1995; on 101 days in 1996; 303 times on 219 days in 1997; and 313 times on 192 days as of Oct. 30live stocklive stock,1998.
1 A stop order is an order to buy at a price above or sell at a price below the that when a at or above the stop price (buy stop order) or at or below the stop price (sell stop order). Stop buy are used to limit loss or on a short sale; stop sell are used to or limit loss on a .
2 A stop limit order is a stop order which a limit order after the stop price has been .
3 The is to the “ ” that halt for a of time on a in the DJIA. The were last April and are as a 10live stock|Trading Curbs,20 or 30 value of the of the DJIA for the last month of the . for the 4th are at 800chich 0343 live, 1600, and 2,350live stock, , for the three .
4 A order to sell “plus” is a order to sell a of a stock that the price to be is not lower than the last sale if the last sale was a “plus” or “zero plus” tick, and is not lower than the last sale plus the in the stock if the last sale was a “minus” or “zero minus” tick. A price order to sell “plus” would have the of the price at which it could be .
5 A buy “minus” is a order to buy a of a stock that the price to be is not than the last sale if the last sale was a “minus” or “zero minus” tick, and is not than the last sale minus the in the stock if the last sale was a “plus” or “zero plus’ tick. A price order to buy “ minus” would have the of the price at which it could be .
