We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
80,259 News Articles

Outage at NYSE forces brokers to trade on other exchanges

The glitch occurred as NYSE tried to move hundreds of stocks over to a new matching engine

NYSE Euronext suffered a technical glitch in its new matching engine today, which led to a full day of disruption for brokers who were forced to trade on other exchanges.

The exchange alerted traders as soon as the market opened that the match engine pairing buy and sell orders for 216 listed securities ceased trading, according to the Wall Street Journal.

Trading never resumed in these securities and NYSE had to determine their official closing price, instead of using the traditional auction system to close stocks.

The problem came as NYSE moved a number of securities to its new matching engine, which it hopes will standardise the way the exchange processes orders across its venues.

Only about 800 stocks, out of a possible 3,825 listings, have made the switch since September.

NYSE has said that tomorrow it will move half of the affected stocks back to their previous matching system, and it expects a 'normal day of trading'.

This is the latest outage in a string of technical failures in the financial markets, which include errant trading at Knight Capital Group in August, and Nasdaq's heavily criticised IPO for Facebook.

IDG UK Sites

Android M Developer Preview announced at Google I/O: Android M UK release date and new features. Wh?......

IDG UK Sites

Why I think the Apple Watch sucks and you'd be mad to buy it

IDG UK Sites

Ben & Holly's Game of Thrones titles spoof is delightfully silly

IDG UK Sites

Mac OS X 10.11 release date rumours: all the new features expected in Yosemite successor