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Brokers Wary About ‘Kill Switch’ Design

Traders Magazine Online News, October 18, 2012

Peter Chapman

Brokerage executives are anxious about mechanisms being designed by stock exchanges that will automatically shut off a firm’s incoming orders, to prevent a market disruption or a spate of erroneous orders. Although the exchanges are considering a “layered” approach, whereby a brokerage receives alerts before a complete shutoff, the Securities and Exchange Commission appears to favor a more abrupt solution.

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