The NYSE confirmed that the issue was the result of a technical problem and was not caused by a cyber breach.
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The Dow Jones industrial average rose 233 points, or 1.3 percent, to 17,749 as of 9:35 a.m. Eastern time.
Tuesday night – a day before the stock market temporarily shut down – the group posted its first menacing tweet.
As customers began connecting after 7am on Wednesday morning, there were communication issues between customer gateways and the trading unit with the new release.
Before trading was halted, U.S. indexes were lower as investors anxious about China’s ability to stem a stock market slide. Concerns about China’s plunging stock market and a logjam in talks between Greece and its creditors weighed on the mood.
Top US law enforcement and security officials said they didn’t see a link between the outages at the New York Stock Exchange Wednesday and the temporary grounding of United Continental flights and the temporary malfunction of the Wall Street Journal’s website.
Government officials said it did not appear that the technical troubles were related, or that the various shutdowns were due to hacking or sabotage.
A shutdown in trading at one the world’s most famous exchanges raised the tension in financial markets Wednesday. The Dow opened more than 240 points higher before giving back some of the gains.
The exchange said it then began cancelling all open orders and reaching out to its customers as it worked to solve the problem.
“The agency will be interested in what the root cause is, whether it should have been anticipated, and how the issue is dealt with”, said James Burns, a partner at law firm Willkie, Farr and Gallagher who previously was the SEC’s deputy director of trading and markets.
It said “We’re experiencing a technical issue that we’re working to resolve as quickly as possible”.
USA securities regulators have granted licenses to 26 exchanges in all, including the BATS Exchange, the Miami global Securities Exchange and the Arizona Stock Exchange, and their electronic platforms make it less and less important where trades take place.
For a lot of the 223-year history of the NYSE, a extended trading halt could have walloped the industry.
For the three preceding hours, trades that might otherwise have been routed through the NYSE were instead sent to one of 10 other public exchanges or 50 private exchanges, also known as dark pools.
Trading continued on Nasdaq and other exchanges.
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According to CNN, all other exchanges, including the Nasdaq, remained in operation during the outage.
