Trading on Nasdaq Suffers 3 Hour Shutdown
- Nasdaq, the world's second largest stock exchange suffered trading outage earlier today. Transactions in stocks such as Google and Apple were halted when quotes and pricing of instruments were affected.
Computer glitches have become a common phenomena in the world of electronic trading. Nasdaq, the world's second largest Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term has become the latest trading venue to suffer a computer failure affecting some of the largest stocks in the world.
The exchange experienced difficulties in its quoting system at 12:14:03 ET. The exchange issued a notification on its Market System Status page stating: “Due to an issue at the UTP SIP affecting quote dissemination, NASDAQ is halting trading in all Tape C securities until further notice.”
The debacle affected all instruments and trading resumed after 3 hours. The exchange regularly updated its system page. At 16:11 ET the exchange updated: “The NASDAQ Closing Cross has completed as normal and the extended trading session has begun. If you have any questions please call the NASDAQ Trade Desk at (212) 231-5100.”
Edward J. Moya, Chief Currency Strategist for Trading Advantage tweeted: “I'm glad this Nasdaq glitch didn't happen during the Fed's minutes release.”
The monetary impact of the glitch has not yet been noted, however, the day after the Feds tapering policies were scrutinised markets were looking for trading opportunities.
Nasdaq exchange was not available for comment.
Trading outage is common in financial markets, as seen last year when the Tokyo exchange suffered outage which affected its most liquid stocks. The Knight Capital glitch which cost the market maker $440 million was another instance where markets have seen the foul side of electronic trading.
Computer glitches have become a common phenomena in the world of electronic trading. Nasdaq, the world's second largest Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term has become the latest trading venue to suffer a computer failure affecting some of the largest stocks in the world.
The exchange experienced difficulties in its quoting system at 12:14:03 ET. The exchange issued a notification on its Market System Status page stating: “Due to an issue at the UTP SIP affecting quote dissemination, NASDAQ is halting trading in all Tape C securities until further notice.”
The debacle affected all instruments and trading resumed after 3 hours. The exchange regularly updated its system page. At 16:11 ET the exchange updated: “The NASDAQ Closing Cross has completed as normal and the extended trading session has begun. If you have any questions please call the NASDAQ Trade Desk at (212) 231-5100.”
Edward J. Moya, Chief Currency Strategist for Trading Advantage tweeted: “I'm glad this Nasdaq glitch didn't happen during the Fed's minutes release.”
The monetary impact of the glitch has not yet been noted, however, the day after the Feds tapering policies were scrutinised markets were looking for trading opportunities.
Nasdaq exchange was not available for comment.
Trading outage is common in financial markets, as seen last year when the Tokyo exchange suffered outage which affected its most liquid stocks. The Knight Capital glitch which cost the market maker $440 million was another instance where markets have seen the foul side of electronic trading.