Halt and IPO Quote-Only Period

The default Quote-Only period will be 5 minutes before Halt Re-Open Auctions and 15 minutes before IPO Auctions plus a short random period to prevent gaming. Situations that can result in the Quote-Only period being extended include, but are not limited to:

• Unmatched Market Order Shares (automatic)
• Legitimate Underwriter Request (manual, IPO only)
• Volatility (automatic 5-minute extension for a price movement that is the greater of 10% or 50 cents in the 15 second window prior to the auction match)

During the Quote-Only period, Cboe will begin accepting orders and disseminating indicative prices and Auction Feed information in the subject security. Entered orders can be cancelled and no executions in the subject security will occur until the auction has completed.