Halt and Imbalance Crosses

What this video covers

• How the halt cross uses the ladder in order: maximum paired shares, minimum imbalance, entered price leaving shares unexecuted, and tie-break rules
• How the order imbalance indicator (OII) updates every second, and why a missing current reference price signals a market order imbalance
• Why the far and near clearing prices are both defined as the current reference price
• How eligible interest is determined by time-in-force rather than order type, and how price, display, and time priority allocate limited shares
• How immediate-or-cancel (IOC) orders entered after the close are handled when a halt continues into the evening
• How a market-wide circuit breaker (MWCB) uses the display-only period, the 9:15 a.m. baseline, and five percent or $0.15 auction collars
• How five-minute extensions move collars cumulatively, respond to buy or sell market orders, and release the security when the imbalance clears