Nasdaq Launches Options Trading Kill Switches in Wake of Data Outages
The switch will halt trading during emergencies such as market data outages
Participants who elect to use the switch will be provided with a GUI that will allow them to request all, or a portion of, quote and/or order interest to be cancelled on the Exchange.
The switch can be used to stop trading during emergencies such as software glitches or market data outages, and is part of reforms brought about under the US Securities and Exchange Commission following an incident in 2013 when NYSE Arca sent erroneous quotes and connection messages (amounting to 26 times the
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