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The NYSE will prevent loss, effective in February

The NYSE will prevent loss, effective in February

foreign media reported on 19th, will prevent stop loss orders on the New York Stock Exchange, with effect from February 26, 2016.  The accused, including BlackRock, this type of instruction, like "mine", exacerbated the plunge of August 24.

the NYSE said in a notice, also plans to ban until canceled orders (GTC). NYSE Chief Operating Officer Stacey Cunningham says, "stop the market environment has changed. Many investors use stop-loss orders as a form of insurance policy. They think they can stop, but this is not the case. "

abnormal August 24 hundreds of stocks, including General Electric and JPMorgan Chase.  BlackRock, the world's largest asset managers are analyzed on case, concluded that stops and other factors contributed to market losses.

financial markets, said James Angel, a professor at Georgetown University: "stop just like mine. Even buried mines are unpredictable when detonated. "

 

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