From the 1988 "Report of the Presidential Task Force on Market Mechanisms : submitted to The President of the United States, The Secretary of the Treasury, and The Chairman of the Federal Reserve Board":
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Our understanding of these events leads directly to our recommendations. To help prevent a repetition of the events of mid-October and to provide an effective and coordinated response in the face of market disorder, we recommend that:
• One agency should coordinate the few, but critical, regulatory issues which have an impact across the related market segments and throughout the financial system.
• Clearing systems should be unified to reduce financial risk.
• Margins should be made consistent to control speculation and financial leverage.
• Circuit breaker mechanisms (such as price limits and coordinated trading halts) should be formulated and implemented to protect the market system.
• Information systems should be established to monitor transactions and conditions in related markets.
