# 2026-19120: Markets Trading 23 Hours a Day? Halt Rules Updated!

2026-19120, Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 2628 Concerning the Resumption of Trading Following a Level 3 Market-Wide Circuit Breaker Halt in Connection With the Industry's Expansion of Trading Hours to 23 Hours per Day, 5 Days per Week, is a Federal Register notice from Securities and Exchange Commission published 2026-09-18, effective 2026-12-06; PRIA reads it as touching household money (as of 2026-09-25).

- Canonical: https://policyrisk.com/federal-register/2026-19120
- As of: 2026-09-25
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2026-19120
- Title: Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 2628 Concerning the Resumption of Trading Following a Level 3 Market-Wide Circuit Breaker Halt in Connection With the Industry's Expansion of Trading Hours to 23 Hours per Day, 5 Days per Week
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 91 FR 59245
- Published: 2026-09-18
- Effective: 2026-12-06
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-09-25

## In one line

Markets Trading 23 Hours a Day? Halt Rules Updated!

## Summary

MIAX PEARL is updating its rules to handle how trading restarts after a big market pause called a Level 3 circuit breaker. This change matches the new longer trading hours—23 hours a day, 5 days a week—so trading can resume smoothly and safely. Traders and investors will see these updates take effect right away, helping keep the market steady during wild swings.

## Effects PRIA read

- Keep 4:00 a.m. Resumption After Level 3 Halt: benefit, medium. If a Level 3 market-wide circuit breaker halt (a 20% S&P 500 decline) occurs, trading on MIAX Pearl will remain halted until 4:00 a.m. ET or later on the following trading day rather than reopening at 9:00 p.m. ET the same calendar day. This preserves the current cooling-off period even after excha…
- Harmonize Resumption Time Across Exchanges: benefit, low. MIAX Pearl's rule change codifies that all U.S. self-regulatory organizations will keep a uniform resumption time of 4:00 a.m. ET or later after a Level 3 halt, so markets will not diverge when some exchanges offer overnight sessions from 9:00 p.m. ET to 4:00 a.m. ET. The Exchange states other SROs…

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## Sources
- [2026-19120 on federalregister.gov](https://www.federalregister.gov/documents/2026/09/18/2026-19120/self-regulatory-organizations-miax-pearl-llc-notice-of-filing-and-immediate-effectiveness-of)
- [2026-19120 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-09-18/pdf/2026-19120.pdf)

## Related
- [Previous: 2026-19119, Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing an…](https://policyrisk.com/federal-register/2026-19119)
- [Next: 2026-19121, Self-Regulatory Organizations; NYSE Texas, Inc.; Notice of Filing and Immediate…](https://policyrisk.com/federal-register/2026-19121)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2026-19120 (as of 2026-09-25).