NYSE Sees Price Glitch Amidst Tech Update

The group confirmed that end-of-day prices for the Dow Jones and S&P 500 were delayed on Monday evening

A week after beginning a major technology upgrade, the New York Stock Exchange has experienced a pricing glitch.

On Monday evening, a technical error in the exchange operator’s systems meant that there were delays to the release of end-of-day pricing for the Dow Jones and the S&P 500.

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The data feed hit by the glitch puts out information regarding stock prices and trades. That data is then passed on to brokers and financial media outlets.

The Consolidated Tape Association, the group that oversees the data feed for NYSE-listed stocks, first reported the glitch at 15:15 New York time.

According to the Wall Street Journal, the group then switched to a backup data center. But at 19:28, there were reports that the exchange was still experiencing “connectivity and trade input issues.”

Pillar of strength

The glitch comes at an unfortunate time for the NYSE.

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Last week, the exchange operator began a large-scale operation to move trading on to its new system.

Called ‘Pillar,’ the trading platform makes some substantial changes to the group’s prior operations. Previously separate securities and asset classes, for example, will be accessible on one platform.

Initially planned for a 2015 launch, repeated delays meant the NYSE was only able to start rolling out the new technology properly this month.

Prior attempts to integrate the technology have led to some major hiccups.

In 2017, for instance, one of the exchange’s exchange-traded fund platforms, which was using Pillar technology, failed to publish closing prices for over 300 ETFs.

 

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