NEW YORK May 31 NYSE Euronext asked
U.S. regulators on Friday to allow it to reintroduce rules to
curb excessive trading volatility after several New York Stock
Exchange-listed securities recently experienced sharp unintended
NYSE had a system in place to slow trading when a stock's
price moved rapidly over a short period of time, but had to
cancel it when the U.S. Securities and Exchange Commission
introduced market-wide rules for trading halts in April.
The SEC's new system is being introduced in phases, and
there are currently gaps when it is not in effect around the
opening and close of the market each day.
NYSE said that reinstating its volatility curbs would
"benefit investors, issuers, and market stability by offering an
additional layer of protection during the periods currently not
covered by" the SEC's rules.
On May 17, NYSE canceled trades in Anadarko Petroleum Corp
after the company's value briefly plunged by 99 percent
shortly before the market closed. And on May 23, shares of
American Electric Power Inc and NextEra Energy Inc
each plunged more than 50 percent in the first minute of
trading, and then rebounded.