Glitch prevents trade in over 200 stocks on the NYSE

NEW YORK Tue Nov 13, 2012 3:41am IST

Traders work on the floor of the New York Stock Exchange November 8, 2012. REUTERS/Chip East

Traders work on the floor of the New York Stock Exchange November 8, 2012.

Credit: Reuters/Chip East

Related Topics



NEW YORK (Reuters) - NYSE Euronext suspended trading in over 200 stocks on the New York Stock Exchange on Monday due to a technical problem with a server, although the stocks in question continued trading on other markets.

There were no closing auctions in the affected stocks and a list of the official closing prices for the securities, based on the consolidated last sale, was distributed via email and NYSE's website.

The NYSE first alerted traders it was having problems with one of its cash equity matching engines at 9:38 a.m. and it said it would not publish quotes on a total of 216 stocks, including CVS Caremark Corp and Lazard Ltd.

Nasdaq OMX Group Inc, BATS Global Markets and Direct Edge exchanges stopped sending orders to the NYSE, declaring "self help" against the exchange.

"Orders were coming in, but those who were issuing the orders were not getting their confirmations or their reports, so we felt it was best to zero it out, if you will, and then to suspend trading of those stocks on our market," said Rich Adamonis, an NYSE spokesman.

The NYSE said any open orders should be considered canceled.

Adamonis said the server issues were still being investigated at around 3 p.m., but added that they came as the stock symbols were being moved over to a new trading platform.

The NYSE said it "anticipates a normal trading day in all securities" on Tuesday.

The transatlantic exchange operator is in the process of moving all of its markets - including bonds, options, futures and cash equities - in the United States and Europe to a universal electronic trading platform.

The New York-based company's European markets have been fully integrated with the new system and the exchange is now in the process of moving over its roughly 3,800 U.S. cash equities issues to the new platform, with about 800 having migrated so far, Adamonis said.

The migration will continue to be rolled out through the rest of the year, he added.

NYSE shares closed up 1.4 percent at $23.26.

(Reporting By John McCrank; Editing by Leslie Adler and Andre Grenon)

  • Most Popular
  • Most Shared



Intel's Valuation

Intel's Valuation

Intel could rise 30 percent over next two years - Barron's.  Full Article 



Pope declares sainthood of two Indians, four Italians.  Full Article 

Stake Sale Strike

Stake Sale Strike

Coal India trade unions call off strike in victory for Modi.  Full Article 

Interview with Bulgari CEO

Interview: Bulgari CEO

Bulgari CEO: we shouldn’t have left India so we’re back.  Full Article 

Formula One

Formula One

Hamilton takes second F1 title in style.  Full Article 

Available For Remake

Available For Remake

Bollywood finally wants to pay the price for remakes.  Full Article 

Davis Cup

Davis Cup

Vintage Federer seals first Davis Cup for Switzerland.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage