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Article: 'CIRCUIT BREAKERS' WORK, MANY AGREE.(Business)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- July 29, 1990
CopyrightCOPYRIGHT 1990 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Eben Shapiro New York Times
The controversial futures industry finally got a break last week, and it came in the guise of plummeting markets.
When the dust settled after the plunge on Monday, industry executives declared a victory for the Chicago Mercantile Exchange's self-imposed "circuit breaker" system.
Circuit breakers are mechanisms that temporarily halt trading in wildly swinging markets.
On Monday, when contracts for the Standard & Poor's stock index futures fell 12 points - the equivalent of 100 points in the Dow Jones industrial average - the Mercantile Exchange's circuit breakers kicked in and were widely credited by ...