On December 9th, the SEC granted immediate effectiveness to the proposed four month extension of its circuit breaker and clearly erroneous trades pilot programs aimed at preventing severe market disruptions like those experienced during the May 6 "flash crash." Comments on the extension should be submitted within 21 days after publication in the Federal Register, which is expected during the week of December 13. See, e.g., SEC Release No. 34-63497 (BATS Exchange circuit breaker proposal); SEC Release No. 34-63488 (BATS Exchange clearly erroneous proposal).