CORRECT: US Stock Exchanges To Extend Circuit-Breaker Plan To Aug 11
05 Aprile 2011 - 9:28PM
Dow Jones News
Stock exchange operators are seeking to extend a pilot program
of so-called "circuit breakers" for volatile securities until Aug.
11, according to documents filed with the Securities and Exchange
Commission.
The circuit breakers, originated in the weeks following the May
6 "flash crash," briefly halt trading in shares that rise or fall
by 10% or more in a five-minute period, guarding against rapid
price swings.
The pilot, which had been set to expire on April 11, could be
withdrawn earlier if a new system of price limits is implemented
ahead of the new August end-date, according to a filing by Nasdaq
OMX Group Inc. (NDAQ). Other U.S. exchange companies are expected
to issue similar filings.
Exchanges have been drawing up plans for such a "limit up-limit
down" structure, similar to measures used in futures markets, that
would replace the circuit breakers and allow some trade to continue
while curbing volatility. SEC Chairman Mary Schapiro has voiced
interest in the concept, which would reduce the need to cancel
erroneous trades.
The current range of circuit breakers covers shares in the
Standard & Poor's 500 stock index, the Russell 1000 Index of
large-capitalization stocks and some of the most-used
exchange-traded funds.
-By Jacob Bunge, Dow Jones Newswires; 312-750-4117;
jacob.bunge@dowjones.com.
Grafico Azioni NYSE Group (NYSE:NYX)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni NYSE Group (NYSE:NYX)
Storico
Da Lug 2023 a Lug 2024
Notizie in Tempo Reale relative a Nyse Euronext (Borsa di New York (NYSE)): 0 articoli recenti
Più NYSE Euronext Articoli Notizie