“In my business, you don’t love coincidences, but it does appear that there is NOT a cyber intrusion involved”.
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“I have spoken to the CEO of United, Jeff Smisek, myself”.
Stocks continued to trade elsewhere, and without any dramatic moves up or down.
For Chicago-based United, a router problem was to blame for the airline grounding hundreds of flights worldwide for almost two hours Wednesday morning. However, NYSE and regulators say the outage was caused by an internal technical problem, not hackers.
The outage came on a grim day for USA equities, which fell sharply on a range of concerns, including a major stock downturn in China and worries of a messy Greek exit from the eurozone.
The US Department of Homeland Security did not have an official statement about the computer outages.
The NYSE outage was hardly the first glitch to impact the USA stock market.
“For them to come out immediately and say there are no indicators of cyberattacks or malicious actors in this organization, that didn’t make any sense to me”, said Eric Devansky, director of global security services for TruShield Security. It went from having more than 80 percent of the share of trades in its stocks to around 25 percent today. But firms making trades were able to use a variety of other exchanges while the NYSE was out of commission. But the NYSE now competes with some 60 trading venues to attract buy and sell orders from brokers. “How many times do you get to work everyday because of local traffic?” Baidu fell 3.2 percent and Weibo fell 3.8 percent.
Getting back up and running prior to the 4 p.m. close was important for the market structure role the NYSE plays, Farley said. The FTSE 100 index of leading British shares was 1.4 percent higher. The index had slumped 1.7 percent on Wednesday.
CRUDE: Benchmark USA crude was up 35 cents to $52.71 a barrel on the New York Mercantile Exchange. Mostowfi lauded the NYSE’s decision to shut trading down when they realized they had a technical problem.
In March 2012, BATS, the rival exchange, canceled an initial public offering of its own stock after several technical snafus on its exchange.
Two months later, a highly anticipated IPO of Facebook on the Nasdaq exchange was marred by a series of technical problems, rattling investors unsure if their orders to trade went through.
So what happened? The NYSE has declined to name a specific cause yet, but it’s possibly due to a software update the night before that caused the initial problems at the open. “If this happened at (the London Stock Exchange), you would just be sitting staring at a blank screen”. Itmade the statement on its official Twitter account.
“Wonder if tomorrow is going to be bad for Wall Street….”
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The New York Stock Exchange suspended trading in its main market Wednesday due to a “technical issue” that took 3½ hours to resolve and forced investors to route their orders to other exchanges.
