17 October 2017
Register now

Nyse blames server upgrade for stock trading suspension

13 November 2012  |  5371 views  |  0 New York Stock Exchange

The New York Stock Exchange suspended trading in 216 companies Monday as a server upgrade hit order delivery in the effected stocks.

The bungled upgrade scrambled the Exchange's order matching engines, leading to a day of confusion for traders who received contradictory alerts about the status of their orders.

The problems kicked off at the start of trading after Nyse moved the stock symbols to new servers as part of a phased migration to a new universal trading platform.

Trading in the stocks continued on other exchanges as Nyse investigated the problems. By day's end the Exchange told traders that all open orders in the stocks had been cancelled. A list of consolidated closing prices based on trading elsewhere was distributed by Nyse via e-mail and on its Web site.

The problem is the latest in a series of mishaps to have hit US exchanges since the May 2008 flash crash, which highlighted the complexities of trading in global electronic markets.

Nyse says that it expects trading to resume normally Tuesday.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

SEC fines Nyse $5m for market data distribution failures

SEC fines Nyse $5m for market data distribution failures

14 September 2012  |  5468 views  |  0 comments
Japanese watchdog slams TSE over trading outage

Japanese watchdog slams TSE over trading outage

24 August 2012  |  5453 views  |  0 comments
TSE and BSE trading hit by systems glitches

TSE and BSE trading hit by systems glitches

07 August 2012  |  5621 views  |  0 comments
Tokyo Stock Exchange chief takes pay hit over trading glitch

Tokyo Stock Exchange chief takes pay hit over trading glitch

17 February 2012  |  5585 views  |  0 comments
SIX Swiss Exchange glitch delays trading

SIX Swiss Exchange glitch delays trading

13 January 2012  |  4841 views  |  0 comments
ASX trading hit by glitch as Chi-X waits in wings

ASX trading hit by glitch as Chi-X waits in wings

27 October 2011  |  6321 views  |  1 comments
Glitches delay Nyse Euronext trading for second day

Glitches delay Nyse Euronext trading for second day

21 June 2011  |  6632 views  |  0 comments
LSE stutters as tech glitch hits trading

LSE stutters as tech glitch hits trading

25 February 2011  |  13252 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register nowvisit www.innotribe.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
14609 views comments | 12 tweets | 3 linkedin
Taiwan's Far Eastern International Bank suffers malware attackTaiwan's Far Eastern International Bank su...
13155 views comments | 16 tweets | 22 linkedin
Monzo fends off suitors as current account upgrade beginsMonzo fends off suitors as current account...
9030 views comments | 17 tweets | 14 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8037 views comments | 15 tweets | 20 linkedin
Ripple blockchain network hits 100-member markRipple blockchain network hits 100-member...
7676 views comments | 13 tweets | 13 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job