SEC Chair Mary Jo White met with leaders of the equities and options exchanges, FINRA the Depository Trust & Clearing Corporation and the Options Clearing Corporation following the August 22 interruption in the trading of NASDAQ-listed securities.
Chair White issued this statement following the meeting:
"Our securities markets are strong and work effectively for millions of investors and businesses. The orderly functioning of those markets and the robustness of our market infrastructure are vitally important to our nation's economy. That is why we hold ourselves to very high standards.
"Today's meeting was very constructive. I stressed the need for all market participants to work collaboratively--together and with the Commission--to strengthen critical market infrastructure and improve its resilience when technology falls short. To that end, I asked those at the meeting to work constructively with the Commission staff as we continue to consider ways to enhance the integrity of market systems. They pledged to do so and I expect other market participants will do so as well.
"In short order, I also want those at the meeting--with the input of other market participants--to identify a series of concrete measures designed to address specific areas where the robustness and resilience of market systems can be improved, including the systems that were at the core of last month's trading interruption. The investing public deserves no less.
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