Nyse Euronext applauds circuit breaker proposals

Source: Nyse Euronext

We applaud the Securities and Exchange Commission for its rapid response to the trading events of May 6, 2010, and for its leadership in gaining the agreement of the many exchanges and trading venues on the implementation of industry-wide single-stock circuit breakers.

The adoption of this market-wide mechanism will promote investor protection and is designed to help prevent similar events from taking place in the future. This result is a meaningful step towards re-affirming the integrity of, and confidence in, America's capital market system. We remain committed to working collectively with regulators and all market participants to fully address the causes of the May 6 market plunge and strengthen the national market system going forward.

In addition to adhering to the agreed-upon single-stock circuit breaker to create a consistent standard across the industry, the NYSE has independently elected to continue to operate Liquidity Replenishment Points as a key component of its market structure and to continue to further minimize stock-by-stock volatility on the NYSE marketplace.

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