LTSE amends Rule 11.280 to lock Level 3 halt resumption at 4 a.m. ET

On October 23, 2026, the Long-Term Stock Exchange, Inc. (LTSE) filed a proposed amendment to Rule 11.280 with the Securities and Exchange Commission under Section 19(b)(1) of the Securities Exchange Act and Rule 19b-4. The filing, identified as Release No. 34-106763; File No. SR-LTSE-2026-26 and FR Doc No: 2026-22268, was published in the Federal Register on November 2, 2026 (Vol. 91, No. 210, pp. 69015-69017) and is effective immediately.

The amendment deletes the existing language that requires a halt "for the remainder of the trading day" after a Level 3 market-wide circuit-breaker event and replaces it with explicit wording that trading will remain halted until 4:00 a.m. ET or later on the following trading day. The change is intended to preserve the current 4:00 a.m. ET resumption time despite the industry's planned expansion to 23-hour, five-day trading sessions.

LTSE plans to implement the revised rule on December 6, 2026, the date several exchanges will begin overnight trading sessions running from 9:00 p.m. ET to 4:00 a.m. ET. The amendment is coordinated with other self-regulatory organizations to ensure a uniform resumption time across the market.

The Exchange cites the statutory authority of Section 6 of the Act and Section 6(b)(5) as the basis for the amendment, emphasizing its role in promoting equitable trade principles, market stability, and investor protection.