Limit band risks stale prices in 24/7 markets, SEC warned
Market participants are divided over limit up-limit down (LULD) mechanisms designed to support around-the-clock US equity trading from December 6, with some fearing they are not fit for purpose.
Heidi Fischer, global head of equities and spot markets at the Cboe exchange group, acknowledged LULD is an important tool to act as a guardrail from disorderly price discovery, but said “we do need to make
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