01369nas a2200157   4500008004100000245007500041210006900116260000900185300001200194490000700206520084200213653001201055100001801067700001601085856011001101       2004                        eng d00aWhat makes circuit breakers attractive to financial markets?  A survey0 aWhat makes circuit breakers attractive to financial markets A su  c2004  a109-1460 v133 aAfter the stock market crash of October 1987, the Brady Report (1988) and several academic researchers suggested the imposition of "circuit breakers" to prevent the market from fluctuating excessively. Most financial markets in the world have imposed circuit breaker systems, in the form of price limits and trading halts, in an attempt to reduce excessive market volatility. Similar to any other regulations, circuit breakers have proponents and opponents. In this survey, we analyze the benefits and costs of each type of circuit breaker, provide existing theoretical models and predictions related to each type of circuit breaker, and present findings from empirical studies to justify or disqualify the existence of circuit breakers. In addition, we synthesize existing studies and offer directions for further research in this area.10aFinance1 aKim, Yong, H.1 aYang, Jimmy  u/biblio/what-makes-circuit-breakers-attractive-financial-markets-survey-0