New Obvious Error Metric
Effective Monday, October 2, 2017, Nasdaq will begin using a new Theoretical Price Calculator Tool (“TP Tool”) for determining a theoretical price for obvious and catastrophic errors pursuant to NASDAQ Phlx Rule 1092, The NASDAQ Options Market Rule at Chapter V, Section 6, NASDAQ BX Rule at Chapter V, Section 6, Nasdaq, ISE Rule 720, Nasdaq GEMX Rule 720 and Nasdaq MRX Rule 720.
Nasdaq has chosen LiveVol Pro Market Data vendor TP Tool as the primary source to…