The Securities and Exchange Commission said Thursday it is publishing for public comment the rules proposed by the major U.S. exchanges and the brokerage industry's self-policing arm. Under the proposal, there would be a series of thresholds for canceling trades when prices diverge from the last sale before pricing was disrupted. The higher the value of a stock, the smaller the divergence would have to be to trigger a cancellation.
Nearly 21,000 trades were canceled in the . There now is no clearly defined standard.