The Implementation Schedule for Phase II of the Limit Up-Limit Down Plan
Published on:
July 10, 2013
Issue:
Committee:
SIFMA provides comments to the Securities and Exchange Commission (SEC) requesting the approval of an adjustment to the implementation schedule for Phase II of the Plan to Address Extraordinary Market Volatility (known as the Limit Up-Limit Down Plan).
SIFMA requests that the SEC postpone the application of the Limit Up-Limit Down Plan to the close of trading until: (1) the rules of the primary listing exchanges to govern the interaction between closing auctions and the Plan are filed with the SEC and have become effective; and (2) broker-dealers have had sufficient time to implement the necessary systems and coding changes and conduct testing.