October 15, 2021
Where is the benefit or protection for the average retail investor/trader if the NYSE decides to halt trading in a specific security or handful of securities for up to 2 days? We currently have existing reasonable 15 minute halt rules in place that allow things to cool down during high volatility. How does extending a halt to up to 2 days or further while not subjecting alternate/unliisted trading exchanges to follow the same rules create a free and fair market? What are we as small individual long-term investors or short/mid-term traders being protected from? It seems clear that this new rule amendment gives an edge to those who conduct trades in unlit/unlisted exchanges (ie. Darkpools). This exposes us to untold amounts of potential market manipulation. This rule (to be clear) is not intended to halt the entire market for 2 days. It states that it can apply to one or more securities if deemed necessary. This is NOT in our best interest.