What is the Limit Up–Limit Down (LULD) Rule?

The Limit Up–Limit Down (LULD) Rule is designed to prevent trades from occurring at prices that are significantly outside a stock’s recent trading range.

How it works:

• Each stock has price bands set above and below its recent average price
• If the price moves outside these bands, trading may be paused temporarily

Important:

• TradeZero will continue to accept and route orders during a halt
• Orders are handled on a best-efforts basis when trading resumes
• The reopening price may be significantly different from the prior price

Risk Considerations:

• Large price moves after a halt may impact your account, especially if using margin
• This may result in automatic position liquidations based on risk controls