NYSE resumes trading after tech glitch

By Staff | July 8, 2015 | Last updated on July 8, 2015
1 min read

Trading on the New York Stock Exchange has resumed after a more than three-hour halt earlier today.

The exchange stopped operations just before noon, cancelling all open orders, as it tried to resolve a technical glitch.

“The issue we are experiencing is an internal technical issue and is not the result of a cyber breach,” the exchange said in a statement through its Twitter account. “We chose to suspend trading on NYSE to avoid problems arising from our technical issue.”

During the outage, one trader said the problem was being taken in stride. “It’s under control. We’re just waiting for word. There’s no sign of panic at all,” Mark Otto of J. Streicher & Co told Reuters from the NYSE floor.

At 3:10, all NYSE activities returned to normal, with 50 minutes left in the trading day.

A trader who spoke to The New York Times says market participants received updated software this morning and it caused problems soon after trading began.

NYSE notes that during the outage, NYSE-listed securities were still available for trading on other venues. Many NYSE stocks are cross-listed on Nasdaq, and traders can also turn to dark pools or other alternative venues to execute deals.

Advisor.ca staff

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.