According to incomplete statistics, the United States, France, Japan, South Korea, Singapore, Brazil, Canada, Thailand, the Philippines, Pakistan, Indonesia, Mexico, Colombia, Sri Lanka, Kuwait, Finland, Australia, these countries are stock market melting mechanism.
1, the United States
According to the U.S. Securities and Exchange Commission (SEC), the latest regulations, the melting mechanism program in addition to the melting mechanism for the stock market, but also has a "limit price fluctuations in the upper and lower limits" of the mechanism. If the trading price of a security rises or falls by more than 10% within five minutes, trading is suspended. If the trading price of the security does not return to the specified "price fluctuation range" within a few seconds, trading will be suspended for five minutes.
For the S&P 500 and Russell 1000 index constituents and 430 exchange-traded products with a price of more than $3, the SEC set a "price fluctuation range" of 5%, while other less liquid stocks with a trading price of less than $3 are subject to the "price fluctuation range". The "price fluctuation range" for other less liquid stocks trading below $3 was relaxed to 10%.
2, France
According to the stock trading pattern of small same, the development of the whole day each stock maximum increase of 21.25% of the previous day's closing price, the maximum decline of 18.75%. Trading is suspended for 15 minutes if the price fluctuates by more than 10 percent of the previous day.
3. Japan
When the futures price exceeds a specific range of standard price and a specific range of fair price, futures trading will be suspended. The suspension of trading will last for 15 minutes. If the suspension occurs within 15 minutes before the morning close, the suspension will only be executed before the morning close.
When the Tokyo Stock Price Index (TOPIX) exceeds a specific price range, trading in stocks involved in arbitrage trading is prohibited until the price returns to within the specific price range.
4. South Korea
If the Korean Stock Composite Index (KOSPI) falls 10% or more from the previous day's closing price and such a fall lasts for one minute, stock trading is suspended for 10 minutes, with a limit of 15% for individual stocks. If the price of the most traded futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures futures trading suspended for 5 minutes.
The melting mechanism is implemented only once a day, and is no longer in effect after 2:20 p.m. If there is a suspension of trading in the stock market, futures contracts are halted for 20 minutes. South Korea's stock market has a three-tier melting mechanism, with melting thresholds of 8 percent, 15 percent and 20 percent. When the 8 percent and 15 percent red lines are triggered, trading is suspended for 20 minutes; when 20 percent is triggered, the market is directly closed.
5, Singapore
When the potential trading price is higher than 10% of the reference price (the last traded price at least five minutes before the transaction), a five-minute "cooling-off period" is triggered. During this period, securities are only allowed to trade within a ±10% range, and after five minutes trading resumes as normal and the new reference price is recalculated. (This applies to securities that account for approximately 80% of SGX's trading volume, including some indices.)
Expanded Information
China's stock market had a fusion mechanism
On September 7, 2015, the Shanghai Stock Exchange, Shenzhen Stock Exchange and China Financial Futures Exchange issued a notice of solicitation for comments on a proposal to retain the existing system of upward and downward fluctuations in individual stocks under the premise of under which the index fusion mechanism is introduced.
On December 4, 2015, after the unification of the relevant departments, the Securities and Futures Commission (SFC) formally issued the regulations related to index fusion, which will be formally implemented from January 1, 2016 onwards.
In the evening of January 7, 2016, the Shanghai Stock Exchange, Shenzhen Stock Exchange, China Financial Futures Exchange issued a notice, in order to maintain the stable operation of the market, agreed by the Securities and Futures Commission, since January 8 to suspend the implementation of the index fusion mechanism.
Baidu Encyclopedia - melting mechanism
People's Daily Online - 11 countries stock market crash "melting"! How do shareholders cope?
People's Daily Online - How do foreign countries provide for a "meltdown mechanism"?