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On Thursday, the top three U.S. stock exchange groups, Bats Global Markets (Bats), Nasdaq and the New York Stock Exchange (NYSE), announced collaborative effort to harmonize key functions of the U.S. equity markets in a bid to increase resiliency during times of extreme volatility.
Proposed rule changes will be submitted to regulators in the coming weeks, and it aims at harmonizing the way stocks and ETFs are halted and reopened in volatile trading sessions. The major operators are also working on improving the price discovery process after the stocks come out of a trading pause. The system the exchanges are addressing ... (read more)