UPDATE: The NYSE has resumed trading after halting for over three hours.
Trading on NYSE and NYSE MKT has resumed— NYSE (@NYSE) July 8, 2015
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:
(1 of 2) We’re experiencing a technical issue that we’re working to resolve as quickly as possible.— NYSE (@NYSE) July 8, 2015
(2 of 2) We're doing our utmost to produce a swift resolution & will be providing further updates as soon as we can.— NYSE (@NYSE) July 8, 2015
According to the NYSE, the halt is not a result of a cyber breach.
(1 of 3) The issue we are experiencing is an internal technical issue and is not the result of a cyber breach.— NYSE (@NYSE) July 8, 2015
(2 of 3) We chose to suspend trading on NYSE to avoid problems arising from our technical issue.— NYSE (@NYSE) July 8, 2015
(3 of 3) NYSE-listed securities continue to trade unaffected on other market centers.— NYSE (@NYSE) July 8, 2015
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.
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