Technical Alert, Trading Alert, Regulatory Alert

MIAX Pearl Equities

November 28, 2023 | 04:08 PM

MIAX Pearl Equities - Reminder: Market Wide Circuit Breaker Testing on Saturday, December 2, 2023

As previously announced in the March 8thMarch 28thJune 22nd and September 7th Alerts, MIAX Pearl Equities, in coordination with other market centers and the Securities Information Processors (“SIPs”), will participate in the 2023 annual Market Wide Circuit Breaker (“MWCB”) tests.
In accordance with MIAX Pearl Rule 2622, Limit Up-Limit Down Plan and Trading Halts, certain MIAX Pearl Equities Members have mandatory participation requirements in the annual MWCB test.

Members must register with Trading Operations at prior to testing in order to participate in MWCB tests and are required to submit attestations to

Please note, these tests are systematically monitored for exceptions and the results are reviewed on the following Monday, not in real time.

Successful testing includes receiving and processing various MWCB halt messages from the SIPs including:

  • Receive and process resume messages from the SIPs following a MWCB halt:
  • Receive and process market data from the SIPs relevant to MWCB halts: and
  • Send orders following a Level 1 or Level 2 MWCB halt in a manner consistent with their usual trading behavior. 
Please refer to MIAX Pearl Equities Exchange Regulatory Circulars 2023-052023-12 and 2023-13 for more information.

Remaining Test Date:
  • Saturday, December 2, 2023: SIP Failover / MWCB Level 1 and 2, Test #4
For more information, please contact Trading Operations at or (609) 897-7302.
Regulatory inquiries should be directed to or (609) 897-7309.