May 27th 2008, 12:53 System Announcement
by Bogart Beck
NOTICE: SL CapEx to "tweak" Circuit-Breakers - 05/27/2008
Due to recent market volatility and as part of our continuing effort to improve market effectiveness I will be working this week to tighten up (and in some instances actually relax) the CIRCUIT BREAKERS that Auto-HALT trading of companies on extreme pricing swings.
As has been previously announced SL CapEx does not disclose the exact swing percentages but rather monitors the trading activity on a per company basis and adjusts its Breakers from time-to-time as conditions warrant.
There have been several incidents recently that HALTED certain stocks (perhaps irrationally?) during unusually high trading activity (with perhaps JUSTIFIED price swings).
As we have maintained that the CIRCUIT BREAKERS are NOT an effort to prevent an orderly market but are primarily purposed as one of several fraud prevention methodologies we use it is appropriate for us to adjust those Breakers to account for current market dynamics .
During this change you MAY witness brief HALTS of listed companies for no apparent reason over the next few days as I will be adjusting the Breakers on a LIVE MARKET. If for some reason I trip a breaker I will reinstate those companies as quickly as possible.
SL CapEx CEO