When markets become volatile, a market wide circuit breaker, halts trading across all US exchanges and venues.   

These halts are triggered at three circuit breaker thresholds that measure a decrease or increase against the prior day’s closing price of the S&P 500.

The 3 Circuit Breaker levels:

• Level 1 +- 7%

• Level 2 +- 13%

• Level 3 +- 20%

Times or Circuit Breakers

A Level 1 and Level 2 breach can be triggered between 9:30 a.m. and 3:25p.m.

A Level 3 breach can be triggered at any time. 

A Level 1 and Level 2 breach halts trading for a minimum of 15 minutes.

A Level 3 breach halts trading for the remainder of the trading day.

Orders during a halt

You can continue to use Stake and place orders, but these will not be processed until the market re-opens.  

When a halt occurs, all non-executed orders will remain in a pending state until cleared, cancelled or expired. You can cancel these orders at any time during the halt.