Under the new rules, trading on the Exchanges will be halted as follows:
1. Before 2:00 pm Eastern Time, the halt for a 10% decline will be one hour. At or after 2:00 pm but before 2:30 pm, the halt will be for one-half hour. If the 10% trigger value is reached at or after 2:30 pm, the market will not halt at the 10% level and will continue trading.
2. The halt for a 20% decline will be two hours if triggered before 1:00 pm. At or after 1:00 pm, but before 2:00 pm, the halt will be for one hour. If the 20% decline occurs at or after 2:00 pm, trading will halt for the remainder of the day.
3. If the market declines by 30% at any time, trading will be halted for the remainder of the day.