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Rule 375 Missing the Market

/01 Customer Contact and "As of" Reports

When a member organization has "missed the market" on a customer order, the customer should be contacted, informed of the circumstances, and given the choice of having the order filled at the price prevailing "as of" the time the market was missed or executed at the present market price.

If the customer elects to have the order filled at the "as of" price, the member organization may
•   effect the transaction for the customer's account on the Floor and make a cash price adjustment; or
•   fill the customer's order from the firm's error account.
The customer's confirmation shall carry the legend "as of" (date).

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