NYSE Resumes Trading After Halt

Steve Kanaval |

UPDATE: The NYSE has resumed trading after halting for over three hours.

 

 

From earlier:

A computer-related issue has halted execution for NYSE stocks this morning. The issue is related to quotes. I spoke to several contacts at the NYSE and they expect this problem to be fixed today before lunchtime. The issues were reported by several Hedge Funds whose bids and offers were not posting to the stocks assigned, then several other associated systems were required to break trades sent in through the Arca system of entry. The NYSE has rarely shut down in it’s long tenure as the leading exchange and this technical glitch is rare for the exchange.

Per the NYSE:

 

According to the NYSE, the halt is not a result of a cyber breach.

UPDATE: The division of Homeland Secuirty issued a statement that the NYSE halt was NOT terrorist related, and cyber security stocks like CyberArk Software, Ltd. (CYBR) had immediate pops but settled back in to opening levels.

I spoke to back office specialists and they relayed that this is a FIX connection issue which routes customer orders direct to the NYSE floor, this is not effecting order flow currently as the NYSE FIX system only processes 25% of the trades.

The issue will be to re-enter all trades, which the NYSE was required to break to reboot its system. The NYSE is one of the few excahnges operating on a single-fix line system for its floor operations.

I do not see this halt extending into tommorrow's trades, however, as this is a problem that should be fixed today. The problem for the NYSE is it had recent layoffs in this area as part of cost-cutting measures.

Check back for more as the story develops.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Comments

Emerging Growth

Taranis Resources Inc.

Taranis Resources Inc is an exploration stage company. The Company along with its subsidiaries is engaged in the acquisition and exploration of mineral properties. Its projects include Thor Property in…

Private Markets

8tracks

Our mission is to be the best place for people who care about music to create and discover thoughtfully curated playlists. In essence, 8tracks is a platform for online mixtapes.

Dropbox, Inc.

Dropbox is a service that allows their users to bring all photos, docs, and videos anywhere, and share them easily. Any file saved to Dropbox will automatically save to all…