SEC approves exchange rules to prevent ‘clearly erroneous' trades
The Securities and Exchange Commission (SEC) on Monday announced its approval of new rules covering mistaken breaking stock trades on US exchanges. The US regulator says the new standards are focused on eliminating trades that deviate so much from market prices that they are considered “clearly erroneous”.
The development provides a defence against so-called 'fat-finger' trades, by which market participants have suffered some disastrous losses – or near-misses – from simple clerical errors such
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