FINRA Manual: Contents
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6000. QUOTATION AND TRANSACTION REPORTING FACILITIES
6100. QUOTING AND TRADING IN NMS STOCKS
6120. Trading Halts
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6121. Trading Halts Due to Extraordinary Market Volatility
Past version: effective from Mar 30 2011 - Aug 4 2011.
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Pursuant to the procedures set forth in Rule 6120(b), FINRA shall halt all trading otherwise than on an exchange in any NMS stock, as defined in Rule 600(b)(47) of SEC Regulation NMS, if other major securities markets initiate market-wide trading halts in response to their rules or extraordinary market conditions or if otherwise directed by the Securities and Exchange Commission.
• • • Supplementary Material: --------------
.01 Trading Pauses
(a) If a primary listing market has issued an individual stock trading pause under its Rules, FINRA will halt trading otherwise than on an exchange in that security until trading has resumed on the primary listing market. If, however, trading has not resumed on the primary listing market and ten minutes have passed since the individual stock trading pause message has been received from the responsible single plan processor or the primary listing market has issued notice that it cannot resume trading for a reason other than a significant imbalance, FINRA may permit the resumption of trading otherwise than on an exchange in such stock if trading has commenced on at least one other national securities exchange.
(b) The provisions of Supplementary Material .01 of this Rule shall be in effect during a pilot set to end on the earlier of August 11, 2011 or the date on which a limit up/down mechanism to address extraordinary market volatility, if adopted, applies to the pilot securities. During the pilot, the provisions in paragraph (a) above shall be in effect only with respect to securities included in the S&P 500® Index, the Russell 1000® Index, as well as a pilot list of Exchange Traded Products.
Amended by SR-FINRA-2011-015 eff. Mar. 30, 2011.
Amended by SR-FINRA-2010-064 eff. Dec. 7, 2010.
Amended by SR-FINRA-2010-033 eff. Sept. 14, 2010.
Amended by SR-FINRA-2010-025 eff. June 10, 2010.
Adopted by SR-FINRA-2008-048 eff. Oct. 7, 2008.
Selected Notices: 10-30, 10-43.