Nasdaq cancels odd trades in nine big-cap stocks before open


Stock exchange operator Nasdaq OMX is cancelling a series of premarket trades that resulted in wild price swings in a number of stocks including Citigroup and Hewlett-Packard , the exchange said in a statement.

Nasdaq said it is cancelling trades in nine stocks that saw trades take place at a price 10 percent or more away from the previous day's closing.

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"We have no comment further than our ruling," said Robert Madden, Nasdaq OMX spokesman.

Trades executed in the last minute of premarket trading on a third-party platform show wild swings in shares. Hewlett-Packard, for instance, closed on Wednesday at $14.53 a share. It saw more than 50 trades at $3.06 a piece, according to Thomson Reuters data.

(Reporting By David Gaffen; Editing by Chizu Nomiyama)