NEW YORK--Exchange operator CME Group Inc. ( CME ) said it halted silver trading
four times Sunday evening due to highly volatile markets, a spokesman told Dow Jones Newswires.
four times Sunday evening due to highly volatile markets, a spokesman told Dow Jones Newswires.
The trading halts came as silver futures slumped 9.4% to a low of $20.250 a troy ounce in the first few minutes following the open of electronic trading on the Comex division of the New York Mercantile Exchange.
slumped 9.4% to a low of $20.250 a troy ounce in the first few minutes following the open of electronic trading on the Comex division of the New York Mercantile Exchange.
Silver trading was stopped for two 20 second intervals at 6:07 p.m. EDT and 6:09 p.m. EDT, and two consecutive 20 second halts at 6:09 p.m. and 6:10 p.m., the spokesman said. CME Group owns and operates both the Nymex and the Comex exchanges.
Known as Stop Logic, the trading halts are triggered in highly volatile markets to prevent excessive price movements, the spokesman said.
Silver futures were recently trading down 76.2 cents, or 3.4%, at $21.590 a troy ounce.
CME Halted Silver Trading 4 Times Sunday as Prices Slid 9%
