US Securities and Exchange Commission Chairman Mary Jo White said she would push to adopt proposed automated-trading rules after system caused a three-hour halt on the Nasdaq Stock Market.
The failure that affected Nasdaq's system for reporting quotes and trades bolsters the regulator's case for the proposal issued in March, White said in a statement on Thursday. Stock and options exchanges have pushed the SEC to limit the scope of the rule, including how much information about disruptions must be provided to regulators.
"I will work to advance rules that the commission proposed earlier this year regarding new standards for the trading and other systems that are central to the integrity of our markets," White said.
The failure that affected Nasdaq's system for reporting quotes and trades bolsters the regulator's case for the proposal issued in March, White said in a statement on Thursday. Stock and options exchanges have pushed the SEC to limit the scope of the rule, including how much information about disruptions must be provided to regulators.
"I will work to advance rules that the commission proposed earlier this year regarding new standards for the trading and other systems that are central to the integrity of our markets," White said.
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