October 14, 2021
This rule change is a terrible idea. It allows for indefinite suspension of trading in a security with no rules to reinstate trading and no incentive to do so. What good is a marketplace that can be shut whenever well-connected institutions feel it is convenient to do so. There are already circuit breakers in place to take care of excessive volatility with clear conditions specified to trigger them. Introducing a rule to allow suspension of retail trading by the exchange with no clear conditions on its use or for resumption of trade goes completely against the concept of a market. When the exchange has a monopoly on trading of certain stocks, this rule clearly discriminates against retail investors, since institutions will be able to find a way to trade their shares and bypass the rule.