February 3, 2023

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NYSE glitch leads to busted trades, prompts investigation

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NEW YORK — A glitch at the New York Stock Exchange prevented the opening auctions for a slew of stocks on Tuesday, prompting widespread trading halts, confusion over whether orders were being filled at correct prices, and trades in more than 250 securities being busted.

The NYSE, which is owned by Intercontinental Exchange Inc , said a “system issue” prevented the opening auctions in a subset of its listed securities. The stocks began trading without an opening print, causing erroneous prices that the exchange said will be declared null and void.

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“Such events are extremely rare, and we are thoroughly examining the day’s activity to assure the highest level of resilience in our systems,” NYSE’s Chief Operating Officer Michael Blaugrund said in a statement.

NYSE ended the day with a normal market close and expected a regular open on Wednesday, Blaugrund added.

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Reuters

2023-01-24 21:51:29

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