Subscribe to our mailing list

* indicates required

 

 

 

 

BROWSE BY TOPIC

ABOUT FINANCIALISH

We seek to provide information, insights and direction that may enable the Financial Community to effectively and efficiently operate in a regulatory risk-free environment by curating content from all over the web.

 

Stay Informed with the latest fanancialish news.

 

SUBSCRIBE FOR
NEWSLETTERS & ALERTS

FOLLOW US

Archive

Assignment of Rights - NYSE Guidance

June 8, 2012
[ by Howard Haykin ] NYSE and NYSE MKT DMMs (Designated Market Makers) were provided with guidance from NYSE-Regulation on NYSE Rule 103B, VI(A), starting with NYSE Rule 103B, VI(A)(5), which provides that rights traded on the Exchange are not subject to the security allocation provisions specified in the rule and are assigned, when issued, to a DMM unit by the Exchange. Given the short-term nature of rights, the Exchange will generally assign rights to the DMM unit that has been allocated the underlying security unless the issuer requests a specific DMM unit in writing.  The Exchange will notify the DMM in the underlying security if the issuer has made such a request. Get Answers on Policy Questions. Direct questions to: Judith McLevey, VP-Corporate Actions & Market Watch, 212-656-4509; Ed Mecabe, MD- Corporate Actions, 212-656-5026; Joe Conte, Director - Corporate Actions, 212-656-5024; and Frank DeGarcia, VP - NYSE Floor Operations, 212-656-6853. For further details, go to:  [NYSE-Reg. Member Education Bulletin #12-6, 6/7/12].