The Securities and Exchange Commission has issued an order that modifies and extends the National Market System (NMS) Plan to Address Extraordinary Market Volatility. Specifically, the SEC has approved the modification of the definition of “opening price” in instances in which the primary listing exchange opens with quotations. In these instances, the opening price will be the closing price of the NMS stock on the primary listing exchange on the previous trading day, or if no such closing price exists, the last sale on the primary listing exchange reported by the securities information processor.

The SEC also has approved the extension of the pilot period of the plan from April 22, 2016 to April 21, 2017.

The SEC’s order is available here.