Big Board Seeks Volatility Curb
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NEW YORK — The New York Stock Exchange is seeking permission for a rule change to alleviate market volatility when stock-index futures and options expire each month, an exchange spokesman confirmed today.
The NYSE spokesman said the Big Board’s plan was outlined in a proposed rule change submitted to the Securities and Exchange Commission on Sept. 7.
The rule could curb certain types of program trading. The NYSE would expand the power of its specialists by enabling them to only partially fill expiration orders for stock if the market maker can’t find adequate supply or demand.
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