NYSE resumes floor trading after more than 3-hour halt

Trading in all symbols was halted on the New York Stock Exchange floor Wednesday due to an apparent technical issue. The NYSE tweeted that it did not suspect a cyberattack.

“There is no indication that there are malicious actors involved,” White House Press Secretary Josh Earnest said, adding that the White House is monitoring the situation.

nyse

Trading stopped around 11:30 a.m. ET due to what the exchange called an “internal technical issue.” Floor trading is expected to resume at about 3:10 p.m. ET, and closing auctions will continue as normal, the NYSE said.

“It’s not a good day. I don’t’ feel good for our customers who are having to deal with the fallout,” NYSE President Thomas Farley told CNBC.

The NYSE said all open orders, including market on close, limit on close and closing offset, have been canceled. The exchange noted the issues did not affect the NYSE Arca and NYSE Amex/Arca Options.

The Nasdaq reported no technical issues and said it continues to trade NYSE-listed stocks. Just before 2 p.m. ET, the Nasdaq PHLX halted some index options made up of 20 percent or more NYSE securities.

Lucas Jackson | Reuters A screen above the floor of the New York Stock Exchange shows when there was a halt in trading in New York, July 8, 2015.

Lucas Jackson | Reuters
A screen above the floor of the New York Stock Exchange shows when there was a halt in trading in New York, July 8, 2015.

Just after 8 a.m. ET on Wednesday morning, the NYSE put out an alert about “a reported issue with a gateway connection” affecting certain symbols. It issued a notice at 10:37 a.m. ET that the problem was resolved.

“We opened the market as usual. All the NYSE-listed stocks opened without incident. Around mid-morning, we started to see some concerns about the way trading was occurring. Customers weren’t getting all of the messages back that you otherwise expect,” Farley said.

Read More Art Cashin: Here’s what to do after halt ends

Trading on the NYSE floor makes up about a quarter of consolidated tape volume, or trading of all NYSE securities on all platforms, based on a recent 30-day average.

“This will not cause a move in any particular direction, so I would kind of wait it out and see what happens,” said Art Cashin, UBS director of floor operations at the NYSE, in a CNBC interview.

Retail investors are largely unaffected by the outage, said JJ Kinahan, chief strategist at TD Ameritrade.

“This is going to make it more difficult to say the floor traders are important when there’s a technical problem. Because the technical problems take out the floor traders, too,” said Richard Repetto, an analyst with Sandler O’Neill & Partners.

Read More Cramer on NYSE halt—We were warned this was coming

Officials widely denied any link to a cyberattack.

The FBI said in a statement it would “monitor the situation” but “no further law enforcement action is need at this time.” Securities and Exchange Commission Chair Mary Jo White in a statement said “we are in contact with the NYSE and are closely monitoring the situation.”

Homeland Security Secretary Jeh Johnson noted the glitch causing the trading halt and an earlier computer problem that grounded United Airlines flights appear unrelated.

Read More United Airlines flights restored after worldwide groundstop

On Tuesday, hacker group Anonymous tweeted a suspicious statement about potential problems on Wall Street.

nan

Separately on Wednesday, The Wall Street Journal website experienced an apparent outage that was resolved by roughly 1 p.m. ET.

This story is developing. Please check back for further updates.

Click here for the latest on the markets.

This entry was posted in Markets, Stocks. Bookmark the permalink.

Leave a Reply