MarketWatch: Exchanges Have ‘Homework’ after SEC Meeting on Tech Glitches

Securities and Exchange Commission Chairman Mary Jo

Securities and Exchange Commission Chairman Mary Jo

According to The Tell’s Sital Patel, the Securities and Exchange Commission is asking stock exchanges to come up with a series of concrete measures to ensure that market systems are of the highest standards and ensure better communications when breakdowns happen, the regulator said in a statement on Thursday.

The comments come after officials from the SEC and stock exchanges met to discuss the issues surrounding the Nasdaq halting trading for three hours on August 22. “Today’s meeting was very constructive,” said Mary Jo White, chair of the SEC.

“I stressed the need for all market participants to work collaboratively – together and with the Commission – to strengthen critical market infrastructure and improve its resilience when technology falls short.”

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