Nasdaq stops all trading due to systems issue, plans to reopen in a limited capacity soon (update: back online)
Posted in: Today's Chili
Well, this is rather peculiar. The Nasdaq stock market — the entire Nasdaq, which lists major tech firms such as Apple and Facebook — has temporarily suspended all trading due to a technical issue. The exchange sent an alert to traders at 12:14PM ET today announcing that it was halting all trading “until further notice,” according to a New York Times report. Reuters is reporting that Nasdaq will reopen trading soon, but with a 5-minute quote period. The market will not be canceling open orders, however, so firms that don’t want their orders processed once everything’s up and running should cancel their orders manually now. It’s not entirely clear what caused the issue, or how and when it will be resolved, but you better believe it’s causing some commotion on Wall Street, and could impact traders for days and months to come.
Update (2:28PM ET): CNBC and the Wall Street Journal are reporting that Nasdaq will resume limited trading beginning at 2:45PM ET.
Update (2:32PM ET): CNBC is now reporting that trading will resume with just two securities at 2:45PM ET. Full trading will begin at 3:10PM ET.
Update (3:28PM ET): It appears that trading has resumed as of 3:25PM ET.
Update (5:47PM ET): One final tweet here from CNBC. Nasdaq is claiming that today’s issues were resolved within 30 minutes. The remaining 2.5 hours were used to coordinate the re-opening.
Update (6:29PM ET): Nasdaq has issued an official statement following today’s market close. In part, it reads: “NASDAQ OMX will work with other exchanges that are members of the SIP to investigate the issues of today, and we will support any necessary steps to enhance the platform.”
Filed under: Internet
Source: Nasdaq
