Industry Sponsored Plan for Options Exchanges to Address the Limit Up Limit Down Plan

SIFMA provides comments to NYSE Euronext in support of an industry sponsored plan for the options exchanges to address the Limit Up Limit Down Plan (LULD) that the Securities and Exchange Commission (SEC) adopted for the equities markets. SIFMA contacted all of the options exchanges in an effort to solidify support for a uniform, industry-wide plan.

This letter includes SIFMA’s recommendations for how the options industry should operate in a limit or straddle state, once Limit Up Limit Down is implemented.

The letter was also sent to Rick Ketchum, Chief Executive Officer, FINRA, Mary Shapiro, Chairman, Securities and Exchange Commission, Robert Cook, Director, Trading and Markets, Securities and Exchange Commission and Heather Seidel, Associate Director, Trading and Markets, Securities and Exchange Commission.