"Stub quotes" land in SEC's sights, officials say

05/25/2010 | Wall Street Journal, The

The Securities and Exchange Commission, as it looks into the May 6 "flash crash," is moving toward eliminating "stub quotes," officials said. SEC staffers said they have not found any "defenders" of the placeholder prices. The SEC and the Commodity Futures Trading Commission established a joint advisory committee to investigate the market plunge, and staffers presented their findings at a recent meeting.

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