Black Monday was the 1987 stock-market crash that prompted the creation of the Brady Commission in the United States.
President Ronald Reagan established the Presidential Task Force on Market Mechanisms in January 1988 to investigate the causes of the October 1987 collapse. The group was chaired by Nicholas F. Brady, then a former senator and future Treasury secretary, so it became known as the Brady Commission.
Its report examined market structure, program trading, futures, options, and the relationships among different exchanges. The commission concluded that selling pressure and market mechanisms had reinforced one another during the crash. It recommended stronger coordination and safeguards.
The report helped lead to coordinated trading halts and circuit breakers for U.S. markets. Those mechanisms were designed to give investors time to assess information during extreme moves. The commission did not eliminate the possibility of crashes; instead, it addressed how market systems could amplify sudden losses.