What is Circuit Breaker in Trading Listed Stocks?

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According to the latest regulations on listed stock transactions, securities registration transactions, how is a market circuit breaker understood?

Clause 2, Article 2 of Circular 120/2020/TT-BTC (Effective from February 15, 2021) stipulates the interpretation of market circuit breakers as follows:

Market Circuit Breaker (Circuit breaker) is an automatic trading halt mechanism during a trading session when stock prices or stock indices fluctuate reaching predefined thresholds on the securities trading system.

Furthermore, this article also defines the interpretation of certain relevant terms as follows:

- Reference Price is the price level determined by the Stock Exchange and is used as a basis to determine the highest price (ceiling price) and the lowest price (floor price) in a trading day.

- Centralized Matching Method is a trading method conducted on the securities trading system based on matching buy and sell orders of securities. The centralized matching method includes periodic matching and continuous matching.

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