FTSE circuit breakers?

SanMiguel

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Does the FTSE have circuit breakers on individual stocks the same way the US exchanges have?
 
FTSE constituents go into an intraday vol. auction for 5 mins when/if they trade 10% up or down on the day
 
FTSE constituents go into an intraday vol. auction for 5 mins when/if they trade 10% up or down on the day

Who is able to trade during that volume auction?
Presumably they open again and if another 10% move happens, they are locked up again. This is different to the US circuit breakers where the stock shuts down for the entire day?
 
all market participants can enter orders into the vol. auction. All stocks can go into many intraday vol. auctions, some more so than others
 
all market participants can enter orders into the vol. auction. All stocks can go into many intraday vol. auctions, some more so than others

It's not really a circuit breaker if it's only for 5mins though?
and if all market participants can enter trades still, what is the main point of the auction as it doesn;t seem like it's stopping trading?
 
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