A note appearing on the consolidated tape when the tape is running behind under heavy trading, meaning that only the stock symbol and price will be shown for trades under 5000 shares.
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On a ticker tape, an announcement that trading volume is so heavy that small trades (defined as those transactions under 5,000 or 10,000 shares) are not recorded. Tape with volume deleted also further abbreviates the abbreviations used to represent securities, volume, and price.
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Used on the consolidated tape to mean that volume data for trades of 10,000 shares and fewer will be omitted until further notice. The deletion of volume, the next step following the deletion of certain digits of price information, is intended to speed the reporting of trades during periods of very heavy volume. With volume and all data but the digits and fractions deleted, a trade that ordinarily appears as XOM 5s41.3 will be reported as XOM 1.3.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.