SEC chair to convene meeting with exchanges following Nasdaq problems

WASHINGTON Thu Aug 22, 2013 6:54pm EDT

WASHINGTON Aug 22 (Reuters) - U.S. Securities and Exchange Commission Chair Mary Jo White said late Thursday she plans to convene a meeting with exchange executives and other market players to discuss regulatory practices after a technical problem forced Nasdaq OMX's Nasdaq exchange to halt trading for much of the day.

"Today's interruption in trading, while resolved before the end of the day, was nonetheless serious and should reinforce our collective commitment to addressing technological vulnerabilities of exchanges and other market participants," White said in a statement.

She added that she will also work toward finalizing rules proposed earlier this year that aim to bolster the security and soundness of exchanges, clearing agencies and certain large dark pool trading venues.

White did not provide any additional details about what went wrong at Nasdaq.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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