NEW YORK/WASHINGTON May 18 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
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]
Securities and Exchange Commission Chairman Mary Schapiro
said earlier the regulator will unveil the new rules Tuesday.
(Reporting by Jonathan Spicer and Rachelle Younglai; Editing
by Lisa Von Ahn)