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Nasdaq Will Use Kill Switches to Halt Trades, Prevent Flash Crashes

Joe Mont | February 20, 2014

Responding to hardware and software glitches that have led to mini market meltdowns in recent years, Nasdaq is looking to implement a “kill switch” to instantly halt questionable trades.

A proposed rule change filed with the Securities and Exchange Commission by the exchange's parent company, Nasdaq OMX, seeks permission to make offer the risk management tool as an option for its listed companies by March 1, 2014. The New York Stock Exchange's parent company, IntercontinentalExchange Group, also plans to implement similar technology, while another exchange, BATS Global Markets, already has one in place.

The kill switch...

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