I know Nasdaq already announced trade breaks on everything 60% or more away from the market from 2:40-3:00. My question is, are all exchanges coordinating on this break or is this going to be another ass rape like Corinthian colleges (COCO) was back in 2003? (Nasdaq let trades stand and ARCA broke them, it was a mess)
Got this msg from IB: IB has received notice from each of the NASDAQ, NYSE ARCA, BATS, DIRECT EDGE, ISE and NATIONAL STOCK EXCHANGE of their intent to cancel all trades executed between 14:40:00 and 15:00:00 which were executed at a price greater or less that 60% away from the consolidated last print in that security at 14:40:00 or prior. Each has also provided notification that this decision cannot be appealed. At this point we are awaiting information from these exchanges, as well as any other exchanges which may later provide notice of a similar decision, as to which stocks are affected and the break points at which the cancellations will take place.