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 of 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.
