By InvestAdvocate

Lagos (INVERSTADVOCATE)-The Nigerian Stock Exchange (NSE) on Friday said the Index Circuit Breakers Rule has commenced today January 15, 2016.

“Please be reminded that on  1 December 2014, The Exchange deferred the effective date of the “Trading Halts Due to Extraordinary Market Volatility” (Index Circuit Breakers) Rule, and informed the market that it will announce the effective date of the Rule on a later date.” The NSE affirmed.

Nigeria’s apex capital market regulator, the Securities and Exchange Commission (SEC) on May 19, 2014, regulator approved the rule.

Wikipedia says Index Circuit Breaker is a point at which a stock market will stop trading for a period of time in response to substantial drops in value. There is no circuit breaker mechanism on the upside which would prevent speculative gains; therefore is a form of institutionalised bubble bias