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"We have provisions to deal with clearly erroneous trades.
The BATS system executed "three erroneous trades" of the technology company, it said.
The market was stopped, they said, and the erroneous trades were canceled.
The circuit breakers allow for the breaking of such erroneous trades after the fact, not the prevention of such trades.
The S.E.C. has proposed replacing it with a more complex proposal that would cancel erroneous trades without halting a stock.
The circuit breakers were intended to limit volatility, but they have often been set off by erroneous trades.
Similar(35)
The floor is littered with paper: orders, erroneous trade tickets, lunch orders.
That movement was also ascribed to an erroneous trade, and the trades were canceled, according to exchange officials.
The flaw also led to a brief halt in the trading of Apple, after an erroneous trade in its shares led to a drop in its stock.
On Tuesday, trading in Citigroup shares was halted for five minutes when an erroneous trade caused the reported share price to plunge, the second time that the circuit-breaker rules have been used.
C1 A Wild Ride on the Nasdaq Shares of Axcelis Technologies closed at $11.75, up $1.31, after trading as high as $93 in a flurry of action that might have been prompted by an erroneous trade order.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com