The reason that most will give to avoid using locals in parallel loops is that you can not predict which loop will execute in what order. So if one loop is writing to the variable, you do not know if the value was written before or after another loop reads/writes to the variable.
In this case, where you are just reading the variables, I would use the local variables. Just watch that the "latch" function for a button is the default and is incompatible with using local variables. If you want to simulate the latch function, use the mode, "Switch When Pressed" and then turn off the button once all loops have been exited.
I know that it is controversial here, but this is a good case for a sequence. Put all of the parallel loops in the first frame and the "turn
off button" function in the next frame. Then ALL loops get a chance to read the stop button before it is turned off again.
Rob