Federal Register #SR-NASDAQ-2026-080

Nasdaq proposal to clarify trading resumption after a Level 3 market-wide circuit breaker halt

This SEC notice describes a proposed Nasdaq rule change, not a government procurement opportunity. - Government agency: Securities and Exchange Commission (SEC). - Organization proposing the change: The Nasdaq Stock Market LLC (Nasdaq). FINRA and other U.S. self-regulatory organizations are also mentioned. - Proposed change: Amend Equity 4, Rule 4121(b)(ii) to specify that trading after a Level 3 market-wide circuit breaker halt will not resume before 4:00 a.m. ET on the following trading day, including after Nasdaq expands its trading hours. - Purpose: Preserve the existing morning resumption approach, coordinate practices across self-regulatory organizations, and support orderly markets and price discovery. - Procurement: No products or services, quantities, or part numbers are requested.

Description

The Nasdaq Stock Market LLC proposes to amend Equity 4, Rule 4121(b)(ii), which governs resumption of trading following a Level 3 market-wide circuit breaker halt. The change would specify that trading will not resume until 4:00 a.m. ET or later on the following trading day, preserving the current morning resumption time after Nasdaq expands trading to 23 hours per day, five days per week. The filing states that the change is intended to maintain coordinated resumption practices among self-regulatory organizations and support a fair and orderly market. The SEC notice invites comments on the proposed rule change.

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