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Friday, August 30, 2013

Equity Trader Alert #2013 - 83
Limit Up/Limit Down Phase 2 Rollout Reminder - Week 5

Markets Impacted:

Contact Information:

What you need to know:

  • On Tuesday, September 3, 2013, NASDAQ OMX, in coordination with the other primary listing markets, will complete this portion of the Phase 2 rollout for Limit Up/Limit Down.
  • A link to the full symbol rollout schedule can be found below.

What is the general plan for the Limit Up/Limit Down (LULD) production rollout?

NASDAQ OMX® will complete this phase of the LULD Tier 2 symbol rollout in compliance with the Limit Up/Limit Down Plan on September 3, 2013. All NASDAQ listed symbols that are Tier 2 eligible under the Plan will be active on September 3rd. This includes any IPOs, spin-offs, transfers or other corporate actions that may have occurred during the five week rollout.

The LULD bands will begin at 9:30 a.m., Eastern Time (ET) and end at 3:45 p.m., ET each trading day, or fifteen minutes before the close in the case of an early scheduled close. The amended band times will apply to all the Tier 1 symbols and the Tier 2 symbols.

What securities are included in Phase 2?

Phase 2 will include all Tier 2 NMS securities (except rights and warrants) that are not in Tier 1. Tier 1 (fully implemented) includes symbols in the S&P 500, Russell 1000 and Selected ETPs.

What are the details of the rollout plan for LULD?


Schedule by Week Production Rollout
Week 1 : August 5th

(Completed)		 Adjust times for all Tier 1 stocks for LULD bands to cover from 9:30 a.m. - 3:45 p.m. (double bands from 9:30 a.m. - 9:45 a.m., ET and 3:35 p.m. - 3:45 p.m., ET)

Add 50 Tier 2 NASDAQ stocks
Week 2 : August 12th

(Completed)		 Add ~10% of Tier 2 NASDAQ stocks
Week 3 : August 19th

(Completed)		 Add ~20% of Tier 2 NASDAQ stocks
Week 4 : August 26th

(Completed)		 Add ~30% of Tier 2 NASDAQ stocks
Week 5 : September 3rd Add remaining ~40% of Tier 2 NASDAQ stocks

Do you have a detailed list of the NASDAQ symbols part of the rollout?

Yes. Refer to the complete NASDAQ LULD Phase 2 Symbol Rollout List located on the NASDAQ OMX Trader® webpage.

When will the double wide LULD bands be in effect?

Starting on August 5th all Tier 1 stocks and those rolling out part of Phase 2 will have double wide bands in place from 9:30 a.m. - 9:45 a.m. and 3:35 p.m. - 3:45 p.m. (See ERA #2013-9).

Where can I find additional information?


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