T1Halt — News Pending
T1 is a news halt requested ahead of a disclosure. The exchange has been told material news is coming and stops trading so that every participant sees it at the same time. Unlike a volatility pause, a T1 is discretionary and information-driven: something is about to be published that the market has not priced.
What triggers it
- The listed company notifies its exchange that material news is imminent — earnings, a regulatory decision, a merger, a financing, a legal outcome.
- The exchange halts trading before the release so the news disseminates to all participants simultaneously.
How long it lasts
Typically far longer than the five-minute mechanical pause, and genuinely open-ended. The halt runs until the news is out and the dissemination period has elapsed.
How it resumes
The halt usually transitions to a news-released state before trading resumes through a reopening auction. Traders normally see the code progress rather than jump straight back to trading.
What it means for a day trader
T1 is the highest-variance halt code for a day trader. The stock is frozen with unknown information pending, and the resume can gap violently in either direction.
Because the news is unknown during the halt, sizing into a T1 is a bet on an unread headline — this is where a great deal of halt-related account damage happens.
The catalyst type matters more than the halt itself. Backtesting T1 outcomes without segmenting by news category produces a meaningless average.
Related halt codes
Track T1 halts as they happen
Halt Strategy monitors live NASDAQ and NYSE halts, replays the setup around each event, and backtests outcomes segmented by halt code — so T1 events are never averaged in with everything else.
Primary sources
Halt Strategy is research software, not investment advice, and does not execute trades. Halt procedures are set by the exchanges and regulators and can change; confirm current rules against the primary sources before acting on them. Read the full disclaimer and editorial policy.