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Friday, September 10, 2010

Equity Regulatory Alert #2010 - 11
Single Stock Circuit Breaker Functionality to be Expanded to New Securities Effective September 14, 2010

Markets Impacted:

Contact Information:

What you need to know:

  • In June 2010, the Securities and Exchange Commission (SEC) approved a pilot program to establish a market-wide trading pause for individual stocks in the S&P 500 Index that experience a price change of 10% as announced in Equity Regulatory Alert #2010-3.
  • On Friday, September 10, 2010, the SEC approved new rules submitted by the national securities exchanges and the Financial Industry Regulatory AuthorityTM (FINRATM) to amend the Single Stock Trading Pause pilot to include additional issues.
  • Effective Tuesday, September 14, 2010, The NASDAQ Stock Market® (NASDAQ®) and NASDAQ OMX BXSM (BXSM) will expand the Single Stock Trading Pause functionality to the securities included in the Russell 1000 Index and select Exchange-Traded Products.

What has been approved?

Today, the SEC approved new rules submitted by the national securities exchanges and FINRA to amend the Single Stock Trading Pause pilot to include additional securities.

What securities will be covered by the Single Stock Trading Pause?

Effective Tuesday, September 14, 2010, NASDAQ and BX will expand the Single Stock Trading Pause functionality to the securities included in the Russell 1000 Index and select Exchange-Traded Products.

Are any technical changes required by firms?

No, the inclusion of new securities will not require any technical changes.

How are trading pauses disseminated via NASDAQ OMX market data feeds?

For market data information, refer to Data Technical News #2010-18.

Where can I find additional information?

FINRATM is a trademark of Financial Industry Regulatory Authority, Inc.


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