10:22 AM EDT, 06/05/2024 (MT Newswires) -- Global securities watchdog Iosco on Wednesday urged stock exchanges to follow "good practices" to improve their preparedness for and management of market outages.

In a report, Iosco said these practices include the establishment and publication of an outage plan, which may cover the exchange's communication plan and reopening strategy.

"Where trading venues have effective playbooks and outage plans in place, this provides market participants with certainty about the steps that trading venues will take in the event of an outage," the watchdog said in the report. "This, in turn, could improve confidence and resilience in the market."

On Monday, several stocks listed on Intercontinental Exchange's ( ICE ) New York Stock Exchange were halted for volatility due to a technical problem, which was later fixed.

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