SEC HEAD NOT URGING U.S. TRADING HALT AT PRESENT
Securities and Exchange Commission
Chairman David Ruder said a brief trading halt has been
discussed as one way of restoring order to the stock market,
but stressed he is not recommending one at present.
    Speaking to reporters, Ruder said he has been in frequent
contact with New York Stock Exchange Chairman John Phelan about
the market's record drop today.
    "I'm not afraid to say that there is some point, and I
don't know what that point is, that I would be quite anxious to
talk to the New York Stock Exchange about a very temporary halt
in trading," Ruder said.
    Ruder, who spoke to reporters after addressing an American
Stock Exchange-sponsored investors' conference here, said that
the SEC does not have the legal authority to order a trading
halt.
    Any trading halt, which would probably last no more than a
half-hour, would have to be approved by the stock exchanges,
Ruder said.
 Reuter
