The “market status history” update on the NYSE’s site posted Thursday said: “As customers began connecting after 7 a.m. on Wednesday morning, there were communication issues between customer gateways and the trading unit with the new release”.
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The halt came after a technical snafu at United Continental that forced the nation’s second-biggest airline to ground dozens of flights.
Government officials said it did not appear that the technical troubles were related, or that the various shutdowns were due to hacking or sabotage.
There were no issues at the exchange as of 12:30 p.m. Thursday, more than halfway through the trading day.
Asking all exchanges, clearing corporations and depositories to implement necessary changes within six months, Sebi said these Market Infrastructure Institutions (MIIs) need to have a robust cyber security framework to provide essential facilities and perform systemically critical functions of trading, clearing and settlement in securities market.
Stocks continued to trade elsewhere, and without any dramatic moves up or down. There have been concerns about China’s plunging stock market and a logjam in talks between Greece and its creditors that has weighed on investors’ mood all week. That compares with a drop of 1.1 percent for Standard and Poor’s 500 index.
Trading was halted at the exchange for more than three hours, though listed stocks still changed hands through other venues and exchanges.
JIM YOUNG/REUTERS Hactivist collective Anonymous tweeted foreboding messages before and after the New York Stock Exchange shut down Wednesday amid a computer glitch.
CNN Money reports that the NYSE had been having issues throughout the day Wednesday, before the shut down.
It’s not just the open exchanges that are posing competition to NYSE.
As a result of the trading halt, NYSE’s share of the trading action tumbled to a record low on Wednesday, according to Nanex, a firm that studies stock market data.
If all this sounds familiar, you’re not mistaken. It’s the longest delay in the history of the exchange, and we get a vague answer that means nearly anything.
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In May 2010, the Dow Jones industrial average plunged hundreds of points in minutes in an incident that later became known as the “flash crash”. It was founded by a computer programmer.
