Federal Register #SR-IEX-2026-45

IEX proposes extending Level 3 market-wide circuit-breaker trading halts

The Securities and Exchange Commission (SEC) published a notice about a proposed trading-halt rule change from Investors Exchange LLC (IEX). - Government agency: SEC; the notice concerns a proposed rule change filed by IEX. - Proposal: IEX would amend Rule 11.271 to keep trading in all securities halted until 4:00 a.m. Eastern Time or later on the next trading day after a Level 3 market-wide circuit breaker. - Purpose: Preserve a cooling-off period and coordinated market reopening as some exchanges move toward 23-hour-per-day, five-day-per-week trading; IEX says this supports orderly price discovery and harmonized market rules. - Other named organization: FINRA. The notice also refers generally to other U.S. securities exchanges and self-regulatory organizations. - Procurement relevance: This is a regulatory notice seeking public comments, not a procurement. No products, services, quantities, or commercial OEMs are requested.

Description

Investors Exchange LLC proposes to amend Rule 11.271 concerning trading resumption after a Level 3 market-wide circuit breaker halt. The change would specify that trading in all securities remains halted until 4:00 a.m. Eastern Time or later on the following trading day. It is intended to preserve the current resumption time as exchanges expand to 23-hour, five-day trading, rather than allow trading to resume during overnight sessions. The SEC notice invites comments on the proposed rule change.

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