NYSE CLARIFIES TRIPLE WITCHING PROCEDURE
The New York stock exchange said its
rules for triple expiration Friday permit entering
arbitrage-related market-on-close orders in the final 30
minutes of trading providing they are on the other side of
imbalances and providing they open positions.
    The NYSE clarified a statement released yesterday in which
it detailed procedures to be followed this Friday when stock
index options, index futures and individual stock options
expire simultaneously. The NYSE said it will not allow a
market-on-close order after 1530 EST Friday that increases or
liquidates an existing arbitrage position.
    The NYSE in cooperation with the Securities and Exchange
commission will publicize imbalances of 10,000 or more shares
in the 50 stocks beginning at 1530 EST Friday. In the final 30
minutes of trading Friday any market-on-close orders must be on
the other side of the imbalance.
 Reuter
