Report of the Presidential Task Force on Market Mechanisms¶
Mechanisms, P. T. F. o. M. (1988). Report of the Presidential Task Force on Market Mechanisms.
Cited by¶
1 citation across 1 artifact.
Each citation links to the sentence it supports in the citing article.
Primes¶
- Circuit Breaker
- The mechanism was introduced explicitly in response to the 1987 "Black Monday" crash, a deliberate import of the electrical metaphor into market microstructure.
This sourceU.S. Government Printing Office. Post-Black Monday (Oct. 19, 1987) inquiry chaired by Nicholas Brady that recommended coordinated market-wide trading halts ('circuit breakers') at staged index-decline thresholds (adopted by U.S. markets in Oct. 1988; later codified as NYSE Rule 80B), a deliberate import of the electrical metaphor into market microstructure.
Supported in partVerified against the work's full text
The Brady report recommends circuit-breaker trading halts as a response to the October 1987 market break, but it only recommends them and never mentions an electrical metaphor.
“The October 1987 market break demonstrates that it is far better to design and implement coherent, coordinat- ed circuit breaker mechanisms in advance”
- The mechanism was introduced explicitly in response to the 1987 "Black Monday" crash, a deliberate import of the electrical metaphor into market microstructure.
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Registry ID ref:f0565f31578a · see in the full table