200 shares of APC at $100,000/shr triggers circuit breaker

This is getting ridiculous now.  At 10:56 am, APC was halted because 200 shares traded at $100,000 per share.  This was obviously an error and should not have been a reason to halt the stock.  The trade occurred on NYSE ARCA and was most likely caused by some sort of system issue.  One trade should not trigger a halt.  We suggest that before a halt is issued, there should be at  least a minimum amount of trades printed and that the NBBO should be checked for accuracy.

Before rolling out the circuit breaker pilot program to the Russell 1000, the SEC needs to look at how the first 3 circuit breakers were activated.  An enormous amount of power is now in the hands of every trader that has the ability to print a trade.  Some traders may use this power for nefarious purposes.

Halting a stock sends a very powerful message.  It tells the public that markets can not be trusted and regulators need to step in to calm the situation down.  Trading halts should only be used when absolutely necessary.