trading halt codes

Trading Halt Codes

What are Trading Halts?

A trading halt is a temporary suspension of trading for a particular security or securities at one exchange or across numerous exchanges. Trading halts are typically enacted in anticipation of a news announcement, to correct an order imbalance, as a result of a technical glitch or due to regulatory concerns. When a trading halt is in effect, open orders may be canceled and options still may be exercised.

Below is a list of the Types of trading halts and their associated codes.-

Trade Halt Code-  Trade Halt Description

T1 Halt – News PendingTrading is halted pending the release of material news.

T2 Halt – News Released
The news has begun the dissemination process through a Regulation FD compliant method(s).

T5 Single Stock Trading Pause in Effect
Trading has been paused by NASDAQ due to a 10% or more price move in the security in a five-minute period.

T6 Halt – Extraordinary Market Activity
Trading is halted when extraordinary market activity in the security is occurring; NASDAQ determines that such extraordinary market activity is likely to have a material effect on the market for that security; and 1) NASDAQ believes that such extraordinary market activity is caused by the misuse or malfunction of an electronic quotation, communication, reporting or execution system operated by or linked to NASDAQ; or 2) after consultation with either a national securities exchange trading the security on an unlisted trading privileges basis or a non-NASDAQ FINRA facility trading the security, NASDAQ believes such extraordinary market activity is caused by the misuse or malfunction of an electronic quotation, communication, reporting or execution system operated by or linked to such national securities exchange or non- NASDAQ FINRA facility.

T8 Halt – Exchange-Traded-Fund (ETF)
Trading is halted in an ETF due to the consideration of, among other factors: 1) the extent to which trading has ceased in the underlying security(s); 2) whether trading has been halted or suspended in the primary market(s) for any combination of underlying securities accounting for 20% or more of the applicable current index group value; 3) the presence of other unusual conditions or circumstances deemed to be detrimental to the maintenance of a fair and orderly market.

T12 Halt – Additional Information Requested by NASDAQ
Trading is halted pending receipt of additional information requested by NASDAQ.

H4 Halt – Non-compliance
Trading is halted due to the company’s non-compliance with NASDAQ listing requirements.

H9 Halt – Not Current
Trading is halted because the company is not current in its required filings.

H10 Halt – SEC Trading Suspension
The Securities and Exchange Commission has suspended trading in this stock.

H11 Halt – Regulatory Concern
Trading is halted in conjunction with another exchange or market for regulatory reasons.

O1 Operations Halt, Contact Market Operations
IPO1 HIPO Issue not yet Trading

M1 Corporate Action

M2 Quotation Not Available

LUDP Volatility Trading Pause

LUDS Volatility Trading Pause – Straddle Condition

MWC1 Market Wide Circuit Breaker Halt – Level 1

MWC2 Market Wide Circuit Breaker Halt – Level 2

MWC3 Market Wide Circuit Breaker Halt – Level 3

MWC0 Market Wide Circuit Breaker Halt – Carry over from previous day

T3 News and Resumption Times
The news has been fully disseminated through a Regulation FD compliant method(s); or NASDAQ has determined either that system misuse or malfunction that caused extraordinary market activity will no longer have a material effect on the market for the security or that system misuse or malfunction is not the cause of the extraordinary market activity; or NASDAQ has determined the conditions which led to a halt in an Exchange-Traded Fund are no longer present. Two times will be displayed: (1) the time when market participants can enter quotations, followed by (2) the time the security will be released for trading. All trade halt and resumption times will be posted in HH:MM:SS format.

T7 Single Stock Trading Pause/Quotation-Only Period
Quotations have resumed for affected security, but trading remains paused.

R4 Qualifications Issues Reviewed/Resolved; Quotations/Trading to Resume

R9 Filing Requirements Satisfied/Resolved; Quotations/Trading To Resume

C3 Issuer News Not Forthcoming; Quotations/Trading To Resume

C4 Qualifications Halt ended; maint. req. met; Resume

C9 Qualifications Halt Concluded; Filings Met; Quotes/Trades To Resume

C11 Trade Halt Concluded By Other Regulatory Auth,; Quotes/Trades Resume

R1 New Issue Available

R2 Issue Available

IPOQ IPO security released for quotation

IPOE IPO security – positioning window extension

MWCQ Market Wide Circuit Breaker Resumption

M Volatility Trading Pause
Trading has been paused in an Exchange-Listed issue (Market Category Code = C)

D Security deletion from NASDAQ / CQS

Link to Trading Halts Codes from Nasdaq.

Trade Halts – Current

If a security is subject to a Trading Pause, the Pause Threshold Price field will contain the reference threshold price that deviates 10% from a print on the Consolidated Tape that is last sale eligible as compared to every print in that security on a rolling five-minute basis.

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