NYSE Equities Investigating Technical Issue Regarding LULD Bands

WALL STREET - NEW YORK. NYSE Equities said on Monday it was currently investigating a reported technical issue regarding Limit Up-Limit Down bands, sending dozens of stocks listed on the exchange into volatility pauses.

The LULD mechanism is meant to prevent trades in securities from occurring outside of price bands. The bands are set at a percentage level above and below the average reference price of the security over the immediately preceding five-minute period.