Six-month test period for US trading curbs-sources
NEW YORK/WASHINGTON May 18 (Reuters) - Exchanges are expected to introduce new trading curbs known as circuit breakers for large U.S. stocks over a six-month pilot program, as regulators move to avoid a repeat of the severe market plunge on May 6, two people familiar with the talks said on Tuesday.
The circuit breakers need to be in place and operational by June 14, one of the sources said. Both sources requested anonymity because the talks are private.
Multiple sources previously told Reuters the breakers would halt all trading when individual stocks drop or rise by 10 percent in five minutes. [ID:nN18146509]
- White House reverses, says Obama met uncle and lived with him during law school
- South Africans, some fearful, wake to life without Mandela |
- U.S. television, Twitter, alive with new version of 'Sound of Music'
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image
- Ford leans on global Mustang to burnish overseas image