After meeting with leaders of the equities and options exchanges Thursday regarding Nasdaq’s tech glitch that paralyzed trading on Aug. 22, Securities and Exchange Commission Chairwoman Mary Jo White laid out the next steps that the Financial Industry Regulatory Authority, the Depository Trust and Clearing Corp., and the Options Clearing Corp. have agreed to take.
While White said in statement that the meeting was “very constructive,” she stressed the need for all market participants to work collaboratively — together and with the SEC — to strengthen critical market infrastructure and improve its resilience when technology falls short.
To achieve this goal, White said, she 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,” she said, and she expects “other market participants will do so as well.”