Regulatory Halt

A Regulatory Halt may be declared at any time by Cboe Listings Surveillance. At the time a halt is declared, a Halted Trading Status will be sent on the Cboe PITCH feed as well as to the consolidated tape. An email will also be disseminated at this time; however, the email may not have the expected Quote Only period begin time and auction time if that information is not yet available. When the Quote Only period begin time and auction times are known, then another email notification will be sent.

The Cboe BZX Exchange will monitor for limit states and declare a Limit-Up Limit-Down (LULD) Trading Pause when a Cboe Listed security has been in a limit state for 15 seconds. At this time, a halt will be declared followed immediately by the initiation of a Quote Only period. The expected auction time will be set five minutes from the halt time, subject to defined extensions.

Auction Status messages are exclusive to LULD Trading Pauses and will not be generated for any other Regulatory Halts.