Replies to post #86009 on Blackout Media Corp (BKMP)

[Rasica]

NASDAQ is providing general guidance on when transactions may be deemed erroneous under Rule 11890 . This guidance is not a mandate of the rule but is information on how NASDAQ generally applies the terms of the rule (at NASDAQ’s discretion) to determine whether an execution is clearly erroneous.
NASDAQ generally considers a transaction to be clearly erroneous when the print is substantially inconsistent with the current and recent historical trading pattern of the security. In making such a determination, NASDAQ takes into account the circumstances at the time of the transaction, the preservation of the integrity of the market and the maintenance of a fair and orderly market place. Simple assertion by a firm that it made a mistake in entering an order or a quote, or that it failed to pay attention or to update a quote, may not be sufficient to establish that a transaction was clearly erroneous.
http://www.nasdaqtrader.com/trader/tradingservices/marketwatch/clearlyerroneous.stm