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Post by fergus on Jun 30, 2009 17:39:30 GMT -5
www.reuters.com/article/bondsNews/idUSN3046542220090630NEW YORK, June 30 (Reuters) - The New York Stock Exchange said on Tuesday it will implement new circuit-breaker trigger levels for stocks in the third quarter. Circuit-breakers are the thresholds at which trading is halted market-wide for single-day declines in the Dow Jones industrial average. The levels are as follows: * An 850-point drop in the Dow before 2 p.m. EDT will halt trading for one hour. If it is between 2 p.m. and 2:30 p.m., trading will be halted for 30 minutes. If the drop is at 2:30 p.m. or later, there will be no halt in trading. * A 1,700-point drop in the Dow before 1:00 p.m. will halt trading for two hours. If it is between 1:00 p.m. and 2:00 p.m., trading will be halted for one hour. Trading will be halted for the rest of the day if it is at 2:00 p.m. or later. * A 2,600-point drop will halt trading for the remainder of the day regardless of when the decline occurs. (Reporting by Leah Schnurr; Editing by Dan Grebler)
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Post by mwregion on Jul 1, 2009 11:27:28 GMT -5
The amounts are revised quarterly. Today is the first day of the third quarter.
Nothing big, just rule 80B.
They do this to stay on top of being able to ameliorate the downward slide.
For example 10% required to kick in at 14,000 is 1,400 points. If they always left them the same, a 1,400 point drop on the current 8,500 level would be 16%.
Nice to know theres no curbs for increased value. Hahahaha. What a scam.
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