? about halts

[spreadgod]

Quote from GATrader:

The news that prompted a halt in Celgene has been resolved about 30 min ago. The FDA decision came out. How come CELG is still halted? Thanks

The exchanges have to give reasonable time for the press release to be disseminated and wait for a return to an orderly market before they will resume trading.

 

[roclerman]

http://www.nasdaqtrader.com/asp/TradeHaltShowPage.asp

 

[loufah]

Quote from vladiator:

Strange, the more I read about this, the more it looks like trading is completely prohibited during halts... Any good reliable source for this kind of info out there?

My understanding is that the exchanges, when they temporarily halt trading in a stock, almost always request other venues to halt trading, but that sometimes the others don't obey - see http://nasdaqtrader.com/trader/news/2003/headtraderalerts/hta2003-164.stm for one example:

At 11:19 a.m. ET, the Archipelago Exchange facility of the Pacific Exchange resumed trading of COCO after informing NASDAQ that it would not honor the trading halt.

 

[vladiator]

Quote from loufah:

My understanding is that the exchanges, when they temporarily halt trading in a stock, almost always request other venues to halt trading, but that sometimes the others don't obey - see http://nasdaqtrader.com/trader/news/2003/headtraderalerts/hta2003-164.stm for one example:

Thnx. Interesting...