What commission studied the causes of the 1987 Black Monday crash?

The commission that studied the causes of the 1987 Black Monday crash was the Brady Commission.

Its formal name was the Presidential Task Force on Market Mechanisms. President Ronald Reagan established it shortly after the October 19, 1987, market collapse, and former senator Nicholas F. Brady chaired it. The task force issued its report on January 8, 1988.

The report examined the interaction between stock, options, and futures markets. It highlighted heavy selling pressure, portfolio insurance, index arbitrage, and poor coordination among related markets as contributors to the crash. It did not claim that one factor alone explained the 22.6% one-day fall in the Dow Jones Industrial Average.

A common mix-up is confusing the Brady Commission with the Pecora Commission, which investigated banking abuses after the 1929 crash. The Brady Commission also helped inspire later reforms, including coordinated trading halts known as circuit breakers.