The Securities and Exchange Commission (SEC) is working with national securities exchanges and the Financial Industry Regulatory Authority (FINRA) by filing proposed rules which will pause trading in certain individual stocks, by using what it calls "circuit breakers," if the price moves 10% or more in a five-minute period. On May 6th, mortgage finance stocks took a beating as the exchanges swung wildly, dipping nearly 1,000 points before clawing back some ground. "We continue to believe that the market disruption of May 6th was exacerbated by disparate trading rules and conventions across the exchanges," SEC chair Mary Schapiro said in a statement. "As such, I believe it is important that all the exchanges quickly reached consensus on a set of uniform circuit breakers that would be triggered when needed." Write to Diana Golobay. Disclosure: the author holds no relevant investments. Additional reporting by Jacob Gaffney.