Fasten your seatbelts people. From Reuters: regulators and exchanges are getting closer to
a framework for a “kill switch” that could be used to shut down trading before
software glitches get out of control and wreak havoc on markets, a top exchange
official said yesterday.
“We have all engaged in a much more detailed assessment of
how a kill switch could work,” Joe Mecane, an executive vice president at the
New York Stock Exchange, told a Senate Banking panel. “I think we are hopeful
to have something to report in the first quarter of next year….
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