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SEC approves rules designed to minimize likelihood that tech problems at Nasdaq, NYSE, Bats exchanges, and dark pools will have significant market impacts.

By Dave Michaels, Bloomberg | Updated on November 19, 2014

U.S. regulators required stock exchanges to show they can prevent technology disruptions under new rules intended to limit the frequency of malfunctions that have undermined investor confidence.

The Securities and Exchange Commission (SEC) voted unanimously today to approve rules that will cover the Nasdaq Stock Market, the New York Stock Exchange (NYSE), and venues operated by Bats Global Markets Inc., as well as dark pools including those owned by Credit Suisse Group AG and UBS AG. The SEC will separately consider expanding the rules to brokers, such as Citigroup Global Markets Inc. and Citadel Securities LLC, that fill orders themselves away from exchanges.

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