It's so hard to get an answaer here, JFGI. Part of the answer... http://www.investopedia.com/ask/answers/07/circuitbreaker.asp
=========================== fT-trader; None. However since then,all of them , & its a matter of public record; have a plan '' b''- back up different location /diversification. Same requirement for US brokers. Not meaning it could never happen; meaning much more difficult......................................................
When I was trading stock-index futures on the floor back in October of 1987, there was a day when we stopped trading for 2 hours ( if my memory serves me correct ). I think that we were given a 20-30 minute "heads-up" back then. During the first bomb-blast at the World Trade Center in March of 1993, guys just walked out of the pits and left . . . there wasn't even a closing bell and God knows who determined the settlement.
That could be the next step taken if something doesnt get done with this plan of a "bad bank plan". Talk about a drop in the markets if this were to happen.
If the banks were nationalized, given the share value is very little to begin with, one could forsee it happening over a weekend and shareholders getting cashed out at the friday close. I may be dead wrong, but I have doubts they would shut down the market over nationalizing a bank or 2.
If you really want to know which regulation, your going to have to look it up yourself. But I am quite sure Federal law forbids 4 day closings except unavoidably 9/11. That is why they are open short days after thanksgiving and before Xmas. Thats how they cheat to half way get their 4 day holiday. As far as the 9/11 markets open, I must have remembered wrong about when they opened. I thought they opened friday for a short period to comply with financial laws. And yes Banks also cant be closed 4 consecative days. Oh and now i see the guys original question was about circuit breakers. I couldn't tell that was what he was talking about. Those are only used in the event of a heavy market sell off. Not for 9/11 style events. Do another 9/11 style event and people will drop everything and run like hell, even quicker than they did before. Thats the plan b circuit breaker.
There was a link to a trading room log at one time from 9/11. If anyone has it please post link, runs every scenerio and emotion in the book.
It could happen. If we wake up monday morning and Obama comes on TV and says he padlocked and nationalized all the banks and saved the economy. The sell off will be so huge those circuit breakers will pop and the markets would shut down.
I cannot look up a regulation that does not exist. Please note that after the 6 consecutive day closure after 9/11 the NYSE was closed 4 consecutive days from 12/30/2006 through 01/02/2007.