Reply #42: Dem, I asked around [View All]

answer:
Buttercup - I think what they did away with is the 'trading collars' also known as program trading curbs- on the bottom of the chart below.
The 'circuit breakers' , to deal with really big drops , are still in effect I believe.


CIRCUIT-BREAKER LEVELS
FOR FOURTH-QUARTER 2007
In the event of a 1350-POINT decline in the DJIA (10 percent):

Before 2 p.m.
1-HOUR HALT
2-2:30 p.m.
30-MIN. HALT
After 2:30 p.m.
NO HALT

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In the event of a 2700-POINT decline in the DJIA (20 percent):

Before 1 p.m.
2-HOUR HALT

1-2 p.m.
1-HOUR HALT
After 2 p.m.
MARKET CLOSES

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In the event of a 4050-POINT decline in the DJIA (30 percent), regardless of the time, MARKET CLOSES for the day.

TRADING-COLLAR LEVELS
FOR FOURTH-QUARTER 2007
In the event of a 190-POINT ADVANCE in the NYA, all index-arbitrage buy orders of the S&P 500 stocks must be stabilizing for the remainder of the day. Collar will be removed if the NYA moves back to within 90 points of the previous days close.
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In the event of a 190-POINT DECLINE in the NYA, all index-arbitrage sell orders of the S&P 500 stocks must be stabilizing for the remainder of the day. Collar will be removed if the NYA moves back to within 90 points of the previous days close.

Note: Effective October 1 - December 31