Fast Markets and Emergency Conditions

What this video covers

• Why any two Floor Officials may declare a fast market based on an influx of orders or other unusual conditions, without a numeric threshold
• Why declaring a fast market is permissive, while resuming regular trading or halting affected classes is mandatory
• The three cumulative powers available to Floor Officials: directing trading rotations, suspending the firm quote requirement, and taking other necessary actions
• The two routes for suspending the firm quote requirement, including the Trade Desk approval and confirmation process
• The difference between the exchange's two-consecutive-day restriction on stop and stop-limit orders and the approval required beyond two consecutive business days
• Why emergency authority belongs to the Chief Executive Officer, President, or senior-level designee, not to Floor Officials
• How physical, governmental, and commemorative examples introduced by “such as” are illustrative rather than exhaustive