Hello all I would like to open position in LUDP halted stocks. But I have no idea what kind of order should be used to get an opening price after the halt. I google that and it looks like there is similar opening cross as at 9:30 and by logic MOO order should be used, but I'm not sure Thanks!
MOO won't be accepted as this is not an Open. There are no specific order types that deal with halts. The market opens using a "halt cross" procedure. i.e. you just submit orders as normal. During the halt period you'll be able to see the indicative halt cross clearing price. If there's an imbalance/5% signalled move, the halt lasts one minute extra. At the end of the period, a bulk print of the matched orders goes through and normal trading resumes. https://www.nasdaqtrader.com/content/ProductsServices/Trading/IPOHalt/haltcross_fs.pdf In short, you enter/cancel your orders during the halt as you see fit.
Thanks jharmon. It is what I was looking for. Now need to solve the last problem - find how TradeStation shows indicative halt cross clearing price
let me come back to Halt. There are rules when stock must be halted based LUDP: it must have move > X% (depends on stock Tier) during 5min and the National best bid/offer must be outside those boundaries>15sec. But COCP today (06/19/18) had High at 5.50 (10:26) and was halted when the price went down to 4.68. That is more than 10% and the price was > than 15 sec below 10% drop (4.95). So it looks like the rules are not "in place"? I saw a lot of time the opposite thing - the stock brakes all rules but was not halted. COuld somebody explain how exactly that rules work and is it possible to predict that halt? Thanks
There's multiple exchanges involved here. Just because one place halts it (such as its primary listing venue) it doesn't mean all trading venues halt it.