To ensure the smooth implementation of the circuit breaker mechanism for index, the Shanghai Stock Exchange (SSE), according to Section 4.5.6 of the “SSE Trading Rules”, further specifies issues about the securities trading resumption during the circuit breaker period for index as follows:
1. When securities trading resumption occurs during the period of the circuit breaker for index implemented by the SSE, the trading resumption should be postponed till the circuit breaker ends, except that the securities products are out of the scope for implementation of the circuit breaker.
During the postponement period, order submission should be subject to the regulations on the circuit breaker for index. If the circuit breaker ends before 15:00, orders could be continuously submitted or canceled during the postponement period. After the circuit breaker ends, the SSE’s trading host will match the accepted orders by way of call auction, and the securities trading will be resumed. If the circuit breaker lasts till 15:00, during the postponement period, the SSE’s trading host will only accept order cancellation, and trading will not be resumed on that day.
2. When the SSE market implements the circuit breaker for index, if the securities triggers the conditions for in-session temporary trading suspension as stipulated both in the “SSE Guidance for Real-time Supervision on Abnormal Securities Trading” and the “Notice of Regulation on Trading of New Shares in Initial Listing Period”, the in-session temporary trading suspension of relevant securities will last till the market closing, and the trading will not be resumed on that day. After the SSE market completes relevant technical development and testing, the trading resumption time for in-session temporary trading suspension will be restored to be subject to the regulations in the “SSE Guidance for Real-time Supervision on Abnormal Securities Trading” and the “Notice of Strengthening Regulation on Trading of New Shares in Initial Listing Period” and those in the above paragraph of this notice, with the specific resumption time to be notified by the SSE later.