NYSE imbalace rule and Penalties

[kravamax]

Hello!
I am interested in questions about the NYSE imbalance before the market opens. Tell me, please, where you can find out this information? Who can answer my questions?
Interested in this questions:
- The right to nominate NYSE imbalance before the market opens?
- Penalties? what could be the penalties? for what?
Best regards

 

[Tradesight]

The NYSE opening is actually an auction. Buyers and sellers place orders that are either for the Opening Session (opening auction, but not regular session) or market participants can place orders that can exicute in the opening session or carry over to the Core Session (regular trading session 9:30-16:00et).

Limit orders for the day's session may be entered for the current day from 3:30et until 9:29et and still be outright cancelled or replaced with a different limit. All orders placed in this time range will be elligable to participate in the opening auction (first print). Market orders can also be entered or cancelled anytime between 3:30et and 9:29et.

After 9:29et orders that are in the system cannot be cancelled until after the opeing print, usually 9:30et, but can be later in some circumstances. That is were the risk lies.

Note that if there are more buyers than sellers at 9:29et, making an order imbalance that is net to buy, no new buy orders can be accepted but new sell order will be taken to offset the imbalance.

An imbalance occurs when there are either more buyers than sells or vice versa.

This is the basic information but you may be a able to find more detail if you look on the New York Stock Exchange website. NYSE/Euronext

Good trading,

Rich