Trade annulment policy: exchanges may annul or reset trades for material mistakes, with time-bound procedures and review. Policy sets a uniform mechanism for trade annulment or price reset for trades arising from material mistakes or erroneous orders: exchanges may act suo motu or on broker request, require timely electronic submissions, deter frivolous requests, notify brokers, and decide expeditiously while considering market-wide effects. Decisions must be reasoned, published, and reviewable before payout via an independent oversight committee; exchanges must implement bylaws, with application fees credited to the Investor Protection Fund and penalties for erroneous orders.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Trade annulment policy: exchanges may annul or reset trades for material mistakes, with time-bound procedures and review.
Policy sets a uniform mechanism for trade annulment or price reset for trades arising from material mistakes or erroneous orders: exchanges may act suo motu or on broker request, require timely electronic submissions, deter frivolous requests, notify brokers, and decide expeditiously while considering market-wide effects. Decisions must be reasoned, published, and reviewable before payout via an independent oversight committee; exchanges must implement bylaws, with application fees credited to the Investor Protection Fund and penalties for erroneous orders.
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