The Nigerian Stock Exchange has announced that it has released its Interpretative Guidance on the Circuit Breakers’ Rule, Rule 15.46 of the Rulebook of The Exchange, 2015.
The Rule became effective on January 15, 2016. The Exchange also notified the market of the Securities and Exchange Commission (SEC)’s January 19, 2016 approval of amendments to the Rule.
The implementation of The Exchange’s circuit breaker system is consistent with the procedures prescribed by the World Federation of Exchanges in its 2008 Report on Circuit Breakers, as well as the International Organisation of Securities Commissions in its 2002 Report on Trading Halts and Market Closures.
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