- Sep
- 26
- 2008
- 9:04 AM
NYSE To Do One Trade in WaMu
- By: Ray Pellecchia
- File Under: NYSE
In case you haven't seen this NYSE notice just out:
8:49am 09/26/2008
Important update regarding NYSE trading in Washington Mutual Inc. (WM) and Washington Mutual Preferred K (WM PRK) today, Friday, 26 September 08.
Consistent with Reg NMS, NYSE will open WM and WM PRK for a single transaction, then immediately place it in an Operational Trading Halt under the NYSE Sub-penny Pricing rule.
Firms should cancel any orders in WM and WM PRK that are not executed in the Opening transaction. After the close of business today, NYSE will cancel any unexecuted orders in WM and WM PRK.Beginning Monday, 29 September 08, trading in WM and WM PRK will continue at NYSE Arca and other markets. Orders routed to the NYSE will be routed to NYSE Arca, with NYSE Arca pricing applied.
WM and WM PRK continue to be listed on the NYSE.
UPDATE: As you may know, the opening trade has not taken place, as the stock is halted for "news dissemination."
Comments
When is the trade expected to take place?
by Josiah on September 26, 2008 12:19 PM
Ray,
Any idea of when the trade is going to happen? Are they going to wait until the close? It has been a while since I worked on the floor but do they still put indications up after the halt has been lifted? Thanks in advance for the information.
by Eric Schmidt on September 26, 2008 1:19 PM
Ray,
Is it going to trade at 4:00pm? Are they going to post an indication after the halt is removed? Thanks for the help.
by eric schmidt on September 26, 2008 2:32 PM
Sorry, I don't have additional information at this point. This is a regulatory process; any change in status will be announced.
by Ray Pellecchia on September 26, 2008 3:24 PM
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