Practice Note 13.1 Procedures for Trading Halt and Suspension

Past version: Effective up to 31 Jul 2011

Details Cross References Enquiries
Issue date: 3 Nov 2003
7 Jun 2006

Effective date: 10 Nov 2003
1 Sep 2006

Revised on: 24 Mar 2009
Listing Rules 1301, 1302, 1303 and paragraph 21 of Appendix 7.1. Please contact Market Control Department: —
6236-8893 Darrell Lam
6236-8343 Caroline Yeo
6236-8175 Serene Wee
6236-8335 Ong Hui Ling
6236-8341 Juliana Seng
6236-8890 Ng Sai Hong
6236-8840 Hotline

1. Introduction

1.1 This Practice Note provides guidance on the procedures for Trading Halt and Suspension.
1.2 A Trading Halt is a short term trading stoppage requested by an issuer to disclose material information. It is generally requested for a minimum of 30 minutes to a maximum of three market days. When a Trading Halt is being lifted, a stock will enter into the phase that the market is then in.
1.3 A Suspension is generally a longer term trading stoppage that can be requested either by an issuer or imposed by the Exchange. When a Suspension is being lifted, a stock will enter into an adjust phase for a minimum duration of 15 minutes before normal trading commences.
1.4 In a Trading Halt, orders in the system are not purged until the end of the trading day while for a Suspension, all orders are purged at the time of the Suspension.

2. Trading Hours

2.1 Our trading hours is from 9.00 am to 12.30 pm and 2.00 pm to 5.00 pm. Opening Routine is a 30-minute session before trading commences at 9.00 am, i.e. 8.30 am to 9.00 am. Closing Routine will run for 6 minutes after 5.00 pm, i.e. 5.00 pm to 5.06 pm.

3. Procedures for Trading Halt and Suspension

3.1 Trading Halt or Suspension can be applied at any time. When an issuer wishes to request for a Trading Halt or Suspension in its securities during trading hours, it must first contact the officers in Market Control ("MC"). After alerting the MC officer, the issuer can then send the SGXNET announcement to request for Trading Halt or Suspension.
3.2 In the SGXNET announcement, issuers should state the reason for requesting the Trading Halt or Suspension.
3.3 Issuers are to observe the following guidelines when requesting for a Trading Halt or Suspension:—
(a) During Trading Hours ( 9.00 am to 12.30 pm and 2.00 pm to 5.00 pm )

Please call and alert Market Control before releasing the request via SGXNET.
(b) Between 12.30 pm to 2.00 pm on a Trading Day

Please call and alert Market Control before 1.30 pm although the SGXNET request can be released.
(c) Before or After Trading Hours

Please call and alert Market Control before 8.30 am although the SGXNET request can be released.

4. Procedures for Lifting of Trading Halt and Resumption of Trading from Suspension

4.1 For both Trading Halt and Suspension, trading can resume only on the quarter-hour, that is, at the following times:

9.00 am 9.15 am 9.30 am 9.45 am
10.00 am 10.15 am 10.30 am 10.45 am
11.00 am 11.15 am 11.30 am 11.45 am
12.00 pm 12.15 pm    
2.00 pm 2.15 pm 2.30 pm 2.45 pm
3.00 pm 3.15 pm 3.30 pm 3.45 pm
4.00 pm 4.15 pm 4.30 pm 4.45 pm
4.2 Issuers must allow at least 30 minutes of dissemination time after a material announcement is made and before trading resumes.
4.3 Issuers are to observe the following guidelines when requesting for a Lifting of Trading Halt or Resumption of Trading From Suspension:—
(a) During Trading Hours ( 9.00 am to 12.30 pm and 2.00 pm to 5.00 pm)

Please call and alert Market Control before releasing the request via SGXNET.
(b) Between 12.30 pm to 2.00 pm on a Trading Day

Please call and alert Market Control before 1.40 pm although the SGXNET request can be released.

(Issuers are to note that the material announcement must be released before 1.30 pm and the SGXNET request for Lifting of Trading Halt or Resumption of Trading from Suspension should be sent in subsequently latest by 1.35 pm.)
(c) Before or After Trading Hours

Please call and alert Market Control before 8.30 am although the SGXNET request can be released.

(Issuers are to note that the material announcement must be released before 8.00 am and the SGXNET request for Lifting of Trading Halt or Resumption of Trading from Suspension should be sent in subsequently latest by 8.15 am.)

5. SGXNET Templates

Issuers must use the correct template when sending in the above requests. Issuers can choose from the following four templates:—

a. Request for Trading Halt;
b. Request for Suspension;
c. Request for Lifting of Trading Halt;
d. Request for Resumption of Trading from Suspension