Stats › Intraday and market microstructure › Halt timing
When trading halts happen during the day
Single stock halts don't fall evenly across the day. In 2025 the first fifteen minutes of the session took 17% of all limit up limit down trading pauses while being under 4% of the clock. The last twenty five minutes took 3%. Same market, same rules, wildly different hit rate depending on when you're trading.
This page is about the timing and the mechanics behind it, not the annual counts. Those are on the single stock halts page already. What's here is the intraday distribution across three years of the LULD Operating Committee's own annual reports, plus the band rules that produce it: the reference price, the five minute pause, and the widening of the bands at the end of the day.
There's a correction buried in it that I want to flag up front, because a great many write-ups still get this wrong. The bands are no longer doubled at the open. They were, from 2013 until February 2020, and then that was deliberately removed. Sources at the bottom, including the SEC order that did it.
In 2025 there were 1,823 limit up limit down trading pauses between 09:30 and 09:45, 16.9% of the year's 10,763 pauses in 3.8% of the session. The middle of the day, 09:45 to 15:35, took 8,577. The last twenty five minutes took 363, just 3.4%. Per minute of the session, the opening fifteen minutes produces about 5 times as many pauses as midday and about 8 times as many as the close. Price bands are doubled from 15:35 to 16:00 for Tier 1 names and low priced stocks, and are no longer doubled at the open: that ended on 24 Feb 2020.
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