Green Room

Trading glitch shuts down NASDAQ

posted at 1:40 pm on August 22, 2013 by

Must have been one hell of a glitch:

Nasdaq halted trading in all securities Thursday until further notice due to a problem affecting quote dissemination.

Dozens of publicly traded companies, including high-profile companies such asAppleMicrosoft and Facebook, were showing their shares halted. The Nasdaq status message was time stamped at 12:14:03 ET.

Dow Jones reported at 1:06 pm ET that trading would resume “shortly,” though the exact timing was not clear.

Despite the freeze, Nasdaq that it will not cancel orders. “Nasdaq will not be canceling open orders on the book. Customers who wish to cancel their orders may do so and any customer who wishes to not participate in the re-opening should cancel their orders prior to the resumption of trading,” said a spokesman.

The New York Stock Exchange did cancel orders made on NASDAQ securities.  Meanwhile, no one knows for sure what prompted the shutdown, but NASDAQ says it expects to resume shortly.

Recently in the Green Room:

Blowback

Note from Hot Air management: This section is for comments from Hot Air's community of registered readers. Please don't assume that Hot Air management agrees with or otherwise endorses any particular comment just because we let it stand. A reminder: Anyone who fails to comply with our terms of use may lose their posting privilege.

Trackbacks/Pings

Trackback URL

Comments

Could be Barry read something and wanted to make some trades but he was golfing, so he just had them shut it down till he wrapped up. National security and all.

yes, /sarc

SoRight on August 22, 2013 at 1:47 PM

Someone accidentally said Ben stopped printing money.

nobar on August 22, 2013 at 1:49 PM

Update on that – NASDAQ started a 15-minute quote-only period on 2 securities at 2:30 pm EDT and expects to start trading them at 2:45 pm. The rest will have a 15-minute quote-only period at 2:50 pm, with full trading at 3:05 pm.

Of note, customers who have open orders through NASDAQ who want to cancel them must do so before the reopen.

Steve Eggleston on August 22, 2013 at 2:39 PM

Correction – it’s 3:10 pm that NASDAQ is shooting for on a full reopen. Traders think it’s “too early”.

The “partial” trading test appears to be on “test”/fake symbols only.

Steve Eggleston on August 22, 2013 at 2:47 PM

Guess there’s some glitches still in the system; the full open is now pushed back to 3:25 pm EDT.

Prediction – they won’t reopen today as a 3:25 pm open gives the traders 35 minutes before the 4 pm scheduled close.

Steve Eggleston on August 22, 2013 at 2:49 PM

We’ll see what happens at 3 pm when low-volume AAME (Atlantic American, an insurance holding company) is supposed to start trading.

Steve Eggleston on August 22, 2013 at 2:57 PM

The NSA needed to inject some code into their servers.

Chris of Rights on August 22, 2013 at 3:12 PM

Just in – the trades made between the start of the glitch and the shutdown of NASDAQ at 12:20 pm will stand.

The NSA needed to inject some code into their servers.

Chris of Rights on August 22, 2013 at 3:12 PM

They’d inject the code in the overnight updates of the trading software and execute said injected code during the trading day (or didn’t you read “Debt of Honor”?)

Steve Eggleston on August 22, 2013 at 3:24 PM

Trades are moving on NASDAQ stocks, but not on the NYSE yet.

Steve Eggleston on August 22, 2013 at 3:27 PM

Thanks for the runnning updates Steve!

Deep Thought on August 22, 2013 at 3:30 PM

Thanks for the runnning updates Steve!

Deep Thought on August 22, 2013 at 3:30 PM

Not a problem.

Still no statement from NASDAQ on what happened to the quote-reporting system that triggered this mess.

Steve Eggleston on August 22, 2013 at 3:32 PM

Current timeline (times are EDT):

12:14 pm – NASDAQ issued an alert for a glitch in quote dissemination of its securities.

12:20 pm – NASDAQ shut down all of its operations, including its non-New York-based options markets.

Shortly after 12:20 pm – Other markets trading NASDAQ-listed securities stopped trading those securities at the request of NASDAQ. Notably, the NYSE cancelled pending orders for NASDAQ-listed securities.

2:45 pm – Quote-reporting for a single NASDAQ stock (AAME) resumed.

3:00 pm – Trading on AAME resumed.

3:10 pm – Quote-reporting for the rest of the NASDAQ stocks resumed.

3:25 pm – Trading on the rest of the NASDAQ stocks resumed at NASDAQ.

3:35 pm – The NASDAQ Philadelphia options market reopened, the other 2 NASDAQ options market remained closed.

3:42 pm – NYSE still has not resumed trading on NASDAQ-listed stocks, citing “sporatic” problems with the quote-reporting system.

Steve Eggleston on August 22, 2013 at 3:43 PM

It is fake money anyway… The stock markets are now the biggest hoax in history of mankind… They are totally detached from the real economy… They are controlled by a gang of Limousine Liberals who are forcing the government or may the government is happy to print them trillions of dollars at zero interest and buy their toxic assets in the trillions of dollars and all at the expense of the producers… If the government does not do so then the Limousine Liberals will destroy the markets in less than a week…

mnjg on August 22, 2013 at 3:46 PM

Via ZeroHedge – the inevitable “Downfall” parody of the NASDAQ shutdown

Steve Eggleston on August 22, 2013 at 3:48 PM

It is fake money anyway… The stock markets are now the biggest hoax in history of mankind… They are totally detached from the real economy… They are controlled by a gang of Limousine Liberals who are forcing the government or may the government is happy to print them trillions of dollars at zero interest and buy their toxic assets in the trillions of dollars and all at the expense of the producers… If the government does not do so then the Limousine Liberals will destroy the markets in less than a week…

mnjg on August 22, 2013 at 3:46 PM

It is real money…managed (or should that be mismanaged) by fakes who use the power of the bought-and-paid-for government to keep the proverbial Al Czerviks out of the proverbial Bushwood.

Steve Eggleston on August 22, 2013 at 4:09 PM

Just amending the code of the Matrix a bit; no worries.

Midas on August 22, 2013 at 4:29 PM

3:42 pm – NYSE still has not resumed trading on NASDAQ-listed stocks, citing “sporatic” problems with the quote-reporting system.

Steve Eggleston on August 22, 2013 at 3:43 PM

“sporatic”?

Midas on August 22, 2013 at 4:30 PM

“sporatic”?

Midas on August 22, 2013 at 4:30 PM

That was the word used on CNBC.

That NYSE-related series of errors seems to be sourced to NYSE Arca (the electronic trading market arm of NYSE Euronext) – both NASDAQ and BATS had problems with NYSE Arca after the NASDAQ restart.

STILL no statement from either NASDAQ or DC.

Steve Eggleston on August 22, 2013 at 4:48 PM

“T”, “D”; what difference at this point does it make?

Seriously, sorry about the typo.

Steve Eggleston on August 22, 2013 at 4:49 PM

“Tell them to “sleep”, Data.”

-Captain Picard/locutus of borg

portlandon on August 22, 2013 at 7:37 PM