NYSE Announces Fourth-Quarter 2008 Circuit-Breaker
Levels
NEW YORK , September 30, 2008
-- The New York Stock Exchange will implement new circuit-breaker collar trigger
levels for fourth-quarter 2008 effective Wednesday, October 1, 2008.
Circuit-breaker points represent the thresholds at which trading is halted
marketwide for single-day declines in the Dow Jones Industrial Average (DJIA).
Circuit-breaker levels are set quarterly as 10, 20 and 30-percent of the DJIA
average closing values of the previous month, rounded to the nearest 50 points.
In fourth-quarter 2008, the 10, 20 and 30-percent
decline levels, respectively, in the DJIA will be as follows:
Level 1 Halt A 1,100-point drop in
the DJIA before 2 p.m. will halt trading for one hour; for
30 minutes if between 2 p.m. and 2:30 p.m.; and have no effect if at 2:30 p.m.
or later unless there is a level 2 halt.
Level 2 Halt A 2,200-point drop in
the DJIA before 1:00 p.m. will halt trading for two hours;
for one hour if between 1:00 p.m. and 2:00 p.m.; and for the remainder of the
day if at 2:00 p.m. or later.
Level 3 Halt A 3,350-point
drop will halt trading for the remainder of the day
regardless of when the decline occurs.