Trading Status Message Fields

The Trading Status message is used to indicate the current trading status of a security. A Trading Status message will be sent whenever a security’s trading status changes.

Equities

Trading Status of S is to be implied at system startup for all symbols. Starting at 6:00 a.m. ET, Cboe will send a Trading Status of A once orders can be accepted for queuing in preparation for the market open. At 7:00 a.m. ET, Cboe will send a Trading Status of T as symbols are open for trading on the Cboe platform. On BZX and EDGX only, Cboe will send a Trading Status of A starting at 2:30 a.m. ET and a Trading Status of T at 4:00 a.m. ET.

Sequenced Trading Status messages are sent upon system start up for all active securities with Trading Status = 'S' (suspended). Trading Status messages will continue to be published upon symbol state changes, such as at the beginning of order acceptance.

A Trading Status message will also be sent:

• for Regulatory Halts in any security as well as the Trading resumption for the same security.
• in the event of an Exchange specific Suspension.
• for Cboe Listed securities that are in a Quoting period for auctions.
• to indicate a Reg SHO price test is in effect.

  Table 1. Trading Status (Equities)

  Field Name	Offset	Length	Type/(Value)	Description
  Length	0	1	Binary	Length of this message including this field
  Message Type	1	1	0x31	Trading Status message
  Time offset	2	4	Time Offset	Nanosecond offset from last unit timestamp
  Symbol	6	8	Printable ASCII	Symbol right padded with spaces.
  Trading Status	14	1	Alpha	A=Accepting Orders for Queuing (Equities only) H=Halted Q=Quote-Only S=Exchange Specific Suspension T=Trading
  Reg SHO Action	15	1	Alphanumeric	0=No price test in effect 1=Reg SHO price test restriction in effect
  Reserved1	16	1	Alpha	Reserved
  Reserved2	17	1	Alpha	Reserved
  Total Length = 18 bytes

Options

A Trading Status message will be sent for all securities as they transition through various trading states.

Starting at the queuing time for each underlying symbol Cboe will send a Trading Status of Q once orders can be accepted for queuing in preparation for the RTH open. At or after 9:30 a.m. ET, Cboe will send a Trading Status of R (Opening Rotation) followed by a Trading Status of T as series are opened for trading. Cboe will send a Trading Status of L as Curb-eligible Products transition from RTH trading to Curb trading.

A Trading Status message will also be sent for a Regulatory Halt Quoting period in any series where the underlying has experienced a Regulatory Halt as well as the Trading resumption for the same series.

The Trading Status field will be used to represent the status of the RTH and Curb sessions. The GTH Trading Status field will be used to represent the status of series that trade during the GTH session.