Schedule 3, paragraph 3B

The exchange must be able to— temporarily halt or constrain trading on any trading venue operated by it if there is a significant price movement in a financial instrument on such a trading venue or a related trading venue during a short period; and in exceptional cases cancel, vary, or correct, any transaction. For the purposes of sub-paragraph (1) the exchange must ensure that the parameters for halting trading are calibrated in a way which takes into account— to ensure the parameters avoid significant disruptions to the orderliness of trading. the liquidity of different asset classes and sub-classes; the nature of the trading venue market model; and the types of users, The exchange must report the parameters mentioned in sub-paragraph (2) and any material changes to those parameters to the FCA in a format to be specified by the FCA. If a trading venue operated by the exchange is material in terms of liquidity of the trading of a financial instrument and it halts trading in an EEA State in that instrument, it must have systems and procedures in place to ensure that it notifies the FCA.

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Source: legislation.gov.uk · retrieved 2026-09-04