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Massive buying pressures on NSE triggers market-wide circuit breaker
#1
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Massive buying pressures on NSE triggers market-wide circuit breaker

A market-wide circuit breaker kicked in today when the NSE All-Share Index rose beyond the set threshold of 5%.

November 12, 2020 By Omokolade Aja

The Circuit Breaker protocol was triggered by the excessive gains today, as NSE ASI rose from 33,268.36 to 34,959.39, due to massive buying pressures on the bourse, which triggered a 30-minute trading halt of all stocks.

The market reopened at exactly 1:25 PM with a 10-minute intraday auction session, before resuming continuous trading till the close of the day at 2:30p.m

This protocol provided a necessary break for market participants to incorporate and analyze the latest events in a bid to ward-off market-wide speculative trading and ensure rational trading decisions.

However, this was the first time that the circuit breaker had kicked in since its introduction in 2016. During the halt of trading, no order could be placed until trading resumed.

However, existing orders could be withdrawn or canceled but could not be modified. Trading halts did not affect the clearing, settlement, and depository operations for matched trades, as these functioned as normal.
Furthermore, all existing orders keyed in prior to the trading halt and were re-activated and matched upon resumption of trading.

full details here
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#2
NSE Triggers Circuit Breaker as ASI rose​ beyond the set threshold of 5%​

Thursday, November 12, 2020​

The Nigerian Stock Exchange ("NSE" or "The Exchange") has announced that a market-wide circuit breaker kicked in today, Thursday, November 12, 2020, at 12:55p.m, when the NSE All-Share Index (NSE ASI) rose beyond the set threshold of 5%, triggering a 30-minute trading halt of all stocks. This was the first time that the circuit breaker had kicked in since its introduction in 2016.

The Circuit Breaker protocol was triggered by the increase of the NSE ASI from 33,268.36 to 34,959.39. The market reopened at exactly 1:25p.m. with a 10-minute intraday auction session, before resuming continuous trading till the close of the day at 2:30p.m.

During the halt of trading, no order could be placed until trading resumed. However, existing orders could be withdrawn or canceled​ but could not be modified. Trading halts did not affect the clearing, settlement, and depository operations for matched trades, as these functioned as normal. Furthermore, all existing orders keyed in prior to the trading halt were re-activated and were matched upon resumption of trading. ​​

http://www.nse.com.ng/mediacenter/news_a...tions.aspx
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