NYSE Helps Chop Off Fat-Finger Mistakes
After nearly two weeks, the US Securities and Exchange Commission (SEC) has released its findings on what transpired on May 6 between 2:40 p.m. and 3 p.m. and how to prevent a 1,000-point Dow Jones Industrial Average (DJIA) plunge from happening again.
As expected, the SEC is proposing industry-wide single-stock circuit breakers for when a price on an individual stock moves 10 percent or more in a five-minute period. The industry is warming to this proposal that would help prevent systemic
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