Practice Note 8.10.1 — Characteristics of Suspension and Trading Halt
|Issue Date||Cross Reference||Enquiries|
|Added on 3 April 20083 April 2008, amended on 21 September 201121 September 2011, 26 March 201226 March 2012 and 16 September 201616 September 2016.||Rules 8.10.1–8.11.1A||
Facsimile No : 6538 8273
E-Mail Address: firstname.lastname@example.org
Securities Market Control
This Practice Note explains the characteristics of a suspension and a trading halt.
|1||Initiating party||A suspension can be imposed by SGX-ST under the circumstances stated in Rule 8.10.1. An Issuer may also request a suspension if its request for extension of a trading halt is not approved by SGX-ST.||A trading halt can be imposed by SGX-ST under the circumstances stated in Rules 8.11.1 and 8.11.1A.|
|2||Status of unmatched orders||
During a market suspension, unmatched orders in the Trading System may lapse, as determined by SGX-ST. SGX-ST will notify Trading Members of the status of their unmatched orders before the lifting of a market suspension.
During a suspension of a single security or Futures Contract, all unmatched orders will lapse.
|During a trading halt, all existing orders in the ready and unit share markets remain valid. Orders can still be entered, modified or withdrawn in the ready and unit share markets but are not matched.|
|3||Duration of suspension or trading halt||A suspension may persist for a prolonged period.||A trading halt is usually intra-day, with a minimum duration of 30 minutes. SGX-ST may extend the duration of a trading halt beyond 3 Market Days upon the Issuers' request.|
|4||Upon lifting of suspension or trading halt||Upon lifting of a suspension, the suspended security or Futures Contract will enter into an Adjust Phase for at least 15 minutes.||Upon lifting of a trading halt, orders that can be matched will be matched at a single price computed based on the algorithm set by SGX-ST. Unmatched orders are carried forward into the respectiv e phase t he market is in when the trading halt is lifted.|