3 ms·

For those unaware, this is common practice -- it a control that is working as intended. The trading was halted for 15 minutes

pacerwpg 7y ago
When was the last time this happened?
- spork12 7y ago
  election night 2016
  - dev-ns8 7y ago
    Actually not true. This is the first time ever these circuit breakers were triggered during regular trading hours. Even still, on election night, stock futures were only under the 'limit-down rule'. You could have still been buying futures while that restriction was in place, so this is very much different and unprecedented
- deleted 7y ago
  [deleted]
- marzell 7y ago
  Apparently in 1997, so it has been quite a while https://en.m.wikipedia.org/wiki/Trading_curb#Instances_of_use https://en.m.wikipedia.org/wiki/Trading_curb#Instances_of_us...
  - jacobush 7y ago
    Way before high frequency trading, to put some things in perspective.
thisIsNotTrue 7y ago
This is not at all a common practice.
- harambaebae69 7y ago
  username checks out
zuminator 7y ago
This is official policy, but not "common practice." According to CNBC: "These circuit breakers have never been triggered in their current form during regular trading hours." https://www.cnbc.com/2020/03/09/sp-500-futures-are-frozen-after-tanking-5percent-heres-what-happens-when-circuit-breakers-kick-in.html https://www.cnbc.com/2020/03/09/sp-500-futures-are-frozen-af...
- uptown 7y ago
  The current circuit breaker rules went into effect in early 2013. There were different rules in-place prior to that date.
  - sdinsn 7y ago
    And under all rules, the last time it happened was 1997, so it's still signficant
ncallaway 7y ago
I feel like "this is an automated control" would be more accurate that common practice. This is _extremely_ rare.
rwmj 7y ago
Isn't this bad for price discovery? I mean, if stocks go down X% that's good for people who want to buy stocks cheaply and/or discover the true price.

pacerwpg 7y ago

When was the last time this happened?

spork12 7y ago
election night 2016
- dev-ns8 7y ago
  Actually not true. This is the first time ever these circuit breakers were triggered during regular trading hours. Even still, on election night, stock futures were only under the 'limit-down rule'. You could have still been buying futures while that restriction was in place, so this is very much different and unprecedented
deleted 7y ago
[deleted]
marzell 7y ago
Apparently in 1997, so it has been quite a while https://en.m.wikipedia.org/wiki/Trading_curb#Instances_of_use https://en.m.wikipedia.org/wiki/Trading_curb#Instances_of_us...
- jacobush 7y ago
  Way before high frequency trading, to put some things in perspective.

thisIsNotTrue 7y ago

This is not at all a common practice.

harambaebae69 7y ago
username checks out

zuminator 7y ago

This is official policy, but not "common practice." According to CNBC: "These circuit breakers have never been triggered in their current form during regular trading hours." https://www.cnbc.com/2020/03/09/sp-500-futures-are-frozen-after-tanking-5percent-heres-what-happens-when-circuit-breakers-kick-in.html https://www.cnbc.com/2020/03/09/sp-500-futures-are-frozen-af...

uptown 7y ago
The current circuit breaker rules went into effect in early 2013. There were different rules in-place prior to that date.
- sdinsn 7y ago
  And under all rules, the last time it happened was 1997, so it's still signficant

ncallaway 7y ago

I feel like "this is an automated control" would be more accurate that common practice. This is _extremely_ rare.

rwmj 7y ago

Isn't this bad for price discovery? I mean, if stocks go down X% that's good for people who want to buy stocks cheaply and/or discover the true price.