NASDAQ (NDAQ) Exchange Crashes...Again
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Price: $78.56 +1.17%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.2%
EPS Growth %: +11.8%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.2%
EPS Growth %: +11.8%
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(Updated at 5:54PM ET)
A technical problem brought trading in NASDAQ (NASDAQ: NDAQ) securities to a halt Thursday, in what was the latest in a string of system-wide problems at the exchange that was last witnessed with the 2012 IPO of Facebook (NASDAQ: FB).
At 12:14PM ET, NASDAQ issued a notice to the market that due to an issue at the UTP SIP affecting quote dissemination, it is halting trading in all Tape C securities. Option markets controlled by NASDAQ were halted shortly after.
While problems were being witnessed at NASDAQ, other exchanges continued to trade various NASDAQ-listed stocks like Apple (NASDAQ: AAPL). Trading on other exchanges was later halted at the request of NASDAQ, and open trades will be cancelled.
Just before 1PM ET, NASDAQ said it intends to re-open trading in all Tape C securities with a halt cross with a 5-minute quote only period starting at a time to be determined.
After testing out its system by bringing back trading in thinly-traded Atlantic American Corp. (NASDAQ: AAME) successfully at 3PM ET, other NASDAQ stocks successfully resumed trading at 3:25PM ET.
At 4:11PM ET, NASDAQ said its closing cross completed as normal and the extended trading session has begun.
NASDAQ issued a statement to StreetInsider.com on today's issues.
NASDAQ Statement:
Earlier this afternoon, NASDAQ OMX became aware that price quotes were not being disseminated by the Securities Industry Processor (SIP), which consolidates and disseminates all prices for the industry.
Responding to the SIP issue, in order to protect the integrity of the markets, NASDAQ OMX issued a regulatory halt for all trading in NASDAQ-listed securities.
In the first 30 minutes, technical issues with the SIP were resolved. For the remaining period of time, NASDAQ OMX, other exchanges, regulators and market participants coordinated with each other to ensure an orderly re-opening of trading in NASDAQ-listed securities.
Trading resumed and the balance of the trading day finished in normal course.
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.
A technical problem brought trading in NASDAQ (NASDAQ: NDAQ) securities to a halt Thursday, in what was the latest in a string of system-wide problems at the exchange that was last witnessed with the 2012 IPO of Facebook (NASDAQ: FB).
At 12:14PM ET, NASDAQ issued a notice to the market that due to an issue at the UTP SIP affecting quote dissemination, it is halting trading in all Tape C securities. Option markets controlled by NASDAQ were halted shortly after.
While problems were being witnessed at NASDAQ, other exchanges continued to trade various NASDAQ-listed stocks like Apple (NASDAQ: AAPL). Trading on other exchanges was later halted at the request of NASDAQ, and open trades will be cancelled.
Just before 1PM ET, NASDAQ said it intends to re-open trading in all Tape C securities with a halt cross with a 5-minute quote only period starting at a time to be determined.
After testing out its system by bringing back trading in thinly-traded Atlantic American Corp. (NASDAQ: AAME) successfully at 3PM ET, other NASDAQ stocks successfully resumed trading at 3:25PM ET.
At 4:11PM ET, NASDAQ said its closing cross completed as normal and the extended trading session has begun.
NASDAQ issued a statement to StreetInsider.com on today's issues.
NASDAQ Statement:
Earlier this afternoon, NASDAQ OMX became aware that price quotes were not being disseminated by the Securities Industry Processor (SIP), which consolidates and disseminates all prices for the industry.
Responding to the SIP issue, in order to protect the integrity of the markets, NASDAQ OMX issued a regulatory halt for all trading in NASDAQ-listed securities.
In the first 30 minutes, technical issues with the SIP were resolved. For the remaining period of time, NASDAQ OMX, other exchanges, regulators and market participants coordinated with each other to ensure an orderly re-opening of trading in NASDAQ-listed securities.
Trading resumed and the balance of the trading day finished in normal course.
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.
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