Volatility curb may not start until April, Bats says

01/4/2013 | Bloomberg

Bats Global Markets said this week that the limit-up/limit-down rule, which was supposed to take effect in February, might not be implemented until April due to "substantial operational and interpretive issues." SIFMA welcomed the delay. "Because the plan is such an important market development, our member firms want to make sure they have sufficient time to test the necessary systems and coding changes so that the implementation is successful," said T.R. Lazo, SIFMA managing director and associate general counsel. Read SIFMA's comments to the Securities and Exchange Commission.

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