NYSE American amends Rule 7.12E to keep 4 a.m. resumption after Level 3 halt
The amendment, effective immediately, applies to NYSE American and other SROs, preserving a 4:00 a.m. ET restart after a Level 3 circuit-breaker halt despite the upcoming 23-hour trading schedule.
On September 4, 2026 NYSE American LLC filed a proposed rule change with the Securities and Exchange Commission, identified as Release No. 34-106379; File No. SR-NYSEAMER-2026-83; FR Doc No: 2026-19124. The notice, published September 15, 2026, states that the filing is immediately effective under Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4.
The proposal seeks to amend Rule 7.12E(b)(ii), which currently requires a halt "for the remainder of the trading day" after a Level 3 market-wide circuit-breaker decline. The amendment would replace that language with explicit wording that trading in all stocks remains halted until 4:00 a.m. ET or later on the following trading day.
The change is tied to the industry's planned expansion to 23 hours per day, five days per week, slated to begin on December 6, 2026. Under the new schedule, some exchanges will offer overnight trading from 9:00 p.m. ET to 4:00 a.m. ET. NYSE American argues that retaining the 4:00 a.m. resumption preserves the cooling-off period intended by the market-wide circuit-breaker mechanism.
The Exchange cites Section 6(b) and Section 6(b)(5) of the Act as the statutory basis, emphasizing the goal of promoting just and equitable trade and protecting investors. The amendment does not alter the substantive MWCB mechanism; it merely codifies the decision to keep the existing resumption time.
NYSE American notes that other U.S. equity exchanges and FINRA are expected to file comparable amendments, ensuring a uniform rule across all self-regulatory organizations.
Further reading