Re:Trading halted as U.S. stocks plummet
by HideousKojima on Monday March 09, 2020 @01:34PM
(#22527463)
The stock exchange is privately owned, the owners/management of the NYSE and other exchanges chose to implement circuit breakers like this. The exchanges still have to operate within the bounds of regulations, but nothing is stopping Joe Blow (other than capital, expertise, navigating regulations, etc.) from setting up his own stock exchange that doesn't have any circuit breakers put in place to prevent flash crashes.
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The SEC would indeed stop Joe Blow from setting up his exchange in a way that skirts regulations.
> from setting up his own stock exchange that doesn't have any circuit breakers put in place to prevent flash crashes.
If you are facilitating the trading of regulated instruments this is wrong and there are indeed SEC regulated circuit breakers you will have to implement.