SEC, Major Exchanges, Working on New ‘Circuit-Breaker’ Rules to Avoid Another 1,000-Point Plunge in the Dow

Filed in euro, Gold Prices, lead by on May 11, 2010 0 Comments

In response to the wild ride U.S. stocks endured Thursday, executives from six U.S. stock exchanges yesterday (Monday) agreed on a framework for “strengthening circuit breakers and handling erroneous trades,” the U.S. Securities and Exchange Commission announced . NYSE Euronext (NYSE: NYX ), Nasdaq OMX Group Inc. (Nasdaq: NDAQ ), Bats Global Markets , Direct Edge Holdings , International Securities Exchange Holdings Inc . and CBOE Holdings Inc . (Nasdaq: CME ) met with SEC Chairwoman Mary L. Schapiro on Monday morning. The SEC’s Schapiro, Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler and officials from the various exchanges were also to meet later yesterday with U.S. Treasury Secretary Timothy Geithner. Officials from the CME Group Inc. (Nasdaq: CME ), the largest U.S. futures exchange, also were to attend that meeting – after having met earlier in the day with CFTC leaders, The Wall Street Journal reported.

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SEC, Major Exchanges, Working on New ‘Circuit-Breaker’ Rules to Avoid Another 1,000-Point Plunge in the Dow

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