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What are circuit breakers and trading halts?
Circuit breakers are thresholds where market-wide trading halts are instituted. No security transactions (e.g. pending trades) will be executed during trading halts. The below trading halts will be implemented by markets if a single day decline in the S&P 500 Index exceeds the below levels:
Additionally, volatility in a specific security (e.g. stock) may result in a trading halt for that specific security. These can be implemented by trading exchanges regardless of whether a market-wide halt is instituted.
Note that the price of securities can fluctuate between the start of a trading halt and the execution of a security after the trading halt.
What happens to unexecuted trades during trading halts?
Market orders that are unexecuted at the time of a market halt will be executed once trading commences.
Note that the price of securities can fluctuate between the start of a trading halt and the execution of a security after the trading halt.
Can I place a trade during trading halts?
You will be unable to submit trades during market-wide halts. Once trading commences, you should be able to submit new trades.
If trading in an individual security is halted but there is no market-wide halt, you may be able to submit trades but the trades will not be immediately executed. Submitted trades will be executed once trading commences.
Note that the price of securities can fluctuate between the start of a trading halt and the execution of a stock post-halt.