New 'circuit breakers' for stock trading get SEC approval | ABS-CBN
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New 'circuit breakers' for stock trading get SEC approval
New 'circuit breakers' for stock trading get SEC approval
ABS-CBN News
Published Apr 30, 2020 10:25 AM PHT
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MANILA - The Securities and Exchange Commission said Thursday it approved a measure to address volatility in the stock market as remote trading continues due to the COVID-19 pandemic.
MANILA - The Securities and Exchange Commission said Thursday it approved a measure to address volatility in the stock market as remote trading continues due to the COVID-19 pandemic.
Trading will pause for 15 minutes if the PSE index declines by 10 percent, 30 minutes if the decline reaches 15 percent and for 1 hour if the drop widens to 20 percent, the SEC said in a statement.
Trading will pause for 15 minutes if the PSE index declines by 10 percent, 30 minutes if the decline reaches 15 percent and for 1 hour if the drop widens to 20 percent, the SEC said in a statement.
However, there will be no trading halt even if decline breaches the threshold, less than 20 minutes before pre-close, it said. The circuit breaker can only be triggered once per trading day.
However, there will be no trading halt even if decline breaches the threshold, less than 20 minutes before pre-close, it said. The circuit breaker can only be triggered once per trading day.
“The adjustments are emergency measures necessary to protect investors and maintain order in the market. These will enable the PSE to better manage extraordinary volatility arising from fears over the COVID-19 pandemic," SEC chairperson Emilio B. Aquino said. “
“The adjustments are emergency measures necessary to protect investors and maintain order in the market. These will enable the PSE to better manage extraordinary volatility arising from fears over the COVID-19 pandemic," SEC chairperson Emilio B. Aquino said. “
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Trading at the PSE has been done off-site since Luzon, including Metro Manila, was locked down from March 17. It was extended twice and and scheduled to end on May 15.
Trading at the PSE has been done off-site since Luzon, including Metro Manila, was locked down from March 17. It was extended twice and and scheduled to end on May 15.
-- with a report from Warren de Guzman, ABS-CBN News
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