Exchanges to ask SEC to broaden circuit breakers

06/29/2010 | Bloomberg

NYSE Euronext and Nasdaq OMX Group are planning to propose to the Securities and Exchange Commission that the number of companies covered by new trading curbs be doubled, sources said. The exchanges are also seeking to expand the program to include more than 300 exchange-traded funds. "It makes sense to expand the pilot to ETFs and other stocks traded by a broad universe of investors," said Edward Johnsen, a partner at Winston & Strawn. "I'd expect the SEC to eventually add all National Market System securities so they're all covered by the same rule and the same process."

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