NYSE SAYS IT IS CONFIDENT IT CAN HANDLE VOLUME
The New York Stock Exchange said it is
confident that its computer systems can handle the pace of
trading volume today.
    "We are confident that whatever volume we have this
afternoon, we can handle it," said Richard Torrenzano, a vice
president at the NYSE.
    With two hours of trading left, a record 422 mln shares
have traded hands, far outpacing the volume on the market's
busiet days. The previous busiest day was last Friday, when 338
mln shares traded.
    "Our systems have been tested and they can handle heavy
volume effectiviy and efficiently," Torrenzano said.
    He said the Exchange has been in constant contact with the
Securities and Exchange Commission concerning today's record
breaking decline and heavy volume. He declined to comment on
the context of those discussions.
    Earlier today, SEC chairman David Ruder said a brief
trading halt has been discussed as one way of restoring order
to the market, but stressed he is not recommending one at this
time. He did not say if the option was discussed with the NYSE.
 Reuter
