Limit Up-Limit Down - Overview

The Limit Up-Limit Down Working Group is focused on the implementation issues associated with File No. 4-631: National Market System Plan to Address Extraordinary Market Volatility. As stated in the May 24, 2012 exchange comment letter, the Plan is designed to provide "limit up-limit down requirements that would prevent trades in individual NMS Stocks from occurring outside of the specified price bands. These limit up-limit down requirements would be coupled with Trading Pauses" to address more fundamental price moves.

The rule is intended to apply to all trading centers in NMS stocks including members of the Plan participants.