NYSE seeks rule amendment to keep 4 a.m. restart after Level 3 halt
The amendment binds NYSE and other SROs, preserving a 4:00 a.m. ET trading restart after a Level 3 market-wide circuit breaker, effective immediately.
On September 4, 2026, the New York Stock Exchange LLC filed with the SEC a proposed rule change identified as Release No. 34-106380, File No. SR-NYSE-2026-43. The filing, published in the Federal Register on September 15, 2026 (FR Doc No. 2026-19125), notifies that the proposal is effective immediately.
The proposal seeks to amend Rule 7.12(b)(ii) to delete the phrase that trading will halt "for the remainder of the trading day" after a Level 3 market-wide circuit-breaker halt, and replace it with language that trading will remain halted until 4:00 a.m. ET or later on the following trading day.
The amendment is prompted by the industry's plan to expand trading hours to 23 hours per day, five days per week, with NYSE Arca slated to begin overnight sessions from 9:00 p.m. ET to 4:00 a.m. ET on December 6, 2026. Without the change, the existing rule would require a resumption at 9:00 p.m. ET, shortening the cooling-off period that the market-wide circuit-breaker mechanism is intended to provide.
The Exchange cites Section 6(b) of the Securities Exchange Act of 1934 and Section 6(b)(5) as the statutory basis, emphasizing that the amendment preserves the 4:00 a.m. ET resumption time and does not alter the substantive operation of the MWCB mechanism.
The SEC is soliciting comments on the proposal; the Exchange expects other U.S. equity exchanges and FINRA to file comparable amendments to maintain a harmonized resumption schedule across all self-regulatory organizations.
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