Glitch prevents trade in over 200 stocks on NYSE

NYSE Euronext suspended trading in over 200 stocks on the New York Stock Exchange on Monday due to a technical problem with a server, although the stocks in question continued trading on other markets.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Realasset
moneycontrol.com

Home » News » Markets » International Markets

Nov 13, 2012, 02.00 PM | Source: Reuters

Glitch prevents trade in over 200 stocks on NYSE

NYSE Euronext suspended trading in over 200 stocks on the New York Stock Exchange on Monday due to a technical problem with a server, although the stocks in question continued trading on other markets.

Like this story, share it with millions of investors on M3

Glitch prevents trade in over 200 stocks on NYSE

NYSE Euronext suspended trading in over 200 stocks on the New York Stock Exchange on Monday due to a technical problem with a server, although the stocks in question continued trading on other markets.

Post Your Comments

Share Cancel

Glitch prevents trade in over 200 stocks on NYSE
NYSE Euronext suspended trading in over 200 stocks on the New York Stock Exchange on Monday due to a technical problem with a server, although the stocks in question continued trading on other markets.

There were no closing auctions in the affected stocks and a list of the official closing prices for the securities, based on the consolidated last sale, was distributed via email and NYSE's website.

The NYSE first alerted traders it was having problems with one of its cash equity matching engines at 9:38 a.m. and it said it would not publish quotes on a total of 216 stocks, including CVS Caremark Corp and Lazard Ltd.

Nasdaq OMX Group Inc, BATS Global Markets and Direct Edge exchanges stopped sending orders to the NYSE, declaring "self help" against the exchange.

"Orders were coming in, but those who were issuing the orders were not getting their confirmations or their reports, so we felt it was best to zero it out, if you will, and then to suspend trading of those stocks on our market," said Rich Adamonis, an NYSE spokesman.

The NYSE said any open orders should be considered canceled.

Adamonis said the server issues were still being investigated at around 3 p.m., but added that they came as the stock symbols were being moved over to a new trading platform.

The NYSE said it "anticipates a normal trading day in all securities" on Tuesday.

The transatlantic exchange operator is in the process of moving all of its markets - including bonds, options, futures and cash equities - in the United States and Europe to a universal electronic trading platform.

The New York-based company's European markets have been fully integrated with the new system and the exchange is now in the process of moving over its roughly 3,800 U.S. cash equities issues to the new platform, with about 800 having migrated so far, Adamonis said.

The migration will continue to be rolled out through the rest of the year, he added.

NYSE shares closed up 1.4 percent at USD 23.26.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Glitch prevents trade in over 200 stocks on NYSE

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login