SIFMA sent a letter to regulators supporting NYSE Euronext's plans to reinstate safeguards intended to protect against volatile stock moves. "Recently, there have been several occurrences of sharp price declines in stocks during the open and close periods when the price bands are not in effect," T.R. Lazo, managing director and associate general counsel at SIFMA, writes in the letter. "[SIFMA] believes that allowing NYSE to reinstate the [liquidity replenishment points] functionality will help reduce the instances of sharp price movements until Phase II of the [Limit Up-Limit Down] plan, when the price bands will be in effect during the entire trading day." Read SIFMA's letter to regulators.