News Update: SEC: Exchange Traded Funds Could be Covered by Circuit Breakers Soon
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Federally mandated circuit breakers designed to prevent sudden and sharp swings in share prices could soon be extended to cover all exchange traded funds, according to Securities and Exchange Commission Chairwoman Mary Schapiro.
In May, the SEC adopted a rule creating a unified circuit-breaker pilot program for all exchanges. It’s designed to brake or stop trades of a particular stock if the price moves 10% or more in a five-minute period. The move is in response to the Dow’s 1,000 point drop on May 6 in less than 30 minutes.
In June, the agency introduced proposals to expand the circuit-breaker program to all stocks in the Russell 1000 index as well as 344 specified Exchange Traded Funds, according to MarketWatch.
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Todays Financial News: Exchange-Traded Fund Investing
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http://www.todaysfinancialnews.com — TaipanFinancialNews.Com Smart Investing’s Sandy Franks gets ETF expert Rick Pendergraft’s best bets for successful and profitable ETF investing.
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