(July 6 – 16:00 ET) – The Toronto Stock Exchange has announced its “circuit breaker” thresholds for the third quarter.
The TSE’s “circuit breakers” are coordinated with the U.S. markets. Circuit breaker trigger points are set at three fluctuating levels representing 10%, 20% and 30% of the Dow Jones industrial average. The levels are calculated at the beginning of each quarter by the NYSE, using the average closing value of the DJIA for the preceding month, with each trigger rounded to the nearest 50 points.
Effective July 4, trading halts will be triggered when the DJIA declines below its closing value on the previous trading day by: 1,050 points (level 1), 2,100 points (level 2), and 3,150 points (level 3).
A level 1 halt lasts an hour before 14:00 ET, and 30 minutes between 14:00 and 14:30. After 14:30 trading continues unless a more extreme halt is required. A level 2 halt before 13:00 lasts two hours, and one hour between 13:00 and 14:00. After 14:00 trading is halted for the day. A level 3 halt kills trading for the day regardless of when it occurs.
-IE Staff