Rule 48, also known as Exemptive Relief — Extreme Market Volatility Condition, was a mechanism used by the New York Stock Exchange to ease market opening while volatility is high. It may have the effect of pre-empting trading at disrupted prices, as the designated market makers do not have to disseminate price indications prior to the opening bell.
Rule 48, also known as Exemptive Relief — Extreme Market Volatility Condition, was a mechanism used by the New York Stock Exchange to ease market opening while volatility is high. It may have the effect of pre-empting trading at disrupted prices, as the designated market makers do not have to disseminate price indications prior to the opening bell.
Source: Wikipedia "Rule 48" · CC BY-SA 4.0
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