Earlier this week, IIROC released a guidance notice with regards to the new U.S. market-wide trading circuit breakers. Effective April 8, 2013, trading halt triggers in the U.S. will be based on declines of the S&P 500 Index of 7% (a Level 1 halt), 13% (Level 2) and 20% (Level 3).
For days that U.S. markets are closed and Canadian marketplaces are open, trading halts will be triggered based on similar percentage declines of the S&P/TSX Composite Index. The timing and duration of the market-wide trading halts will otherwise match U.S. requirements.
For more information, see IIROC Notice 13-0059.
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