Glitch prevents trading in over 200 stocks on the NYSE
November 13, 2012 8:49 AM EST
There will be no closing auctions in the affected stocks, and a list of the official closing prices for the securities, based on the consolidated last sale, will be distributed via email and NYSE's website, the exchange operator said.
NYSE first alerted traders it was having problems with one of its cash equity matching engines at 9:38 a.m., and it said it would not publish quotes on a total of 216 stocks, including CVS Caremark Corp
Nasdaq OMX Group
"Orders were coming in, but those who were issuing the orders were not getting their confirmations or their reports, so we felt it was best to zero it out, if you will, and then to suspend trading of those stocks on our market," said Rich Adamonis, an NYSE spokesman.
NYSE said that any open orders should be considered canceled.
Adamonis said the server issues were still being investigated at around 3 p.m., but said they came as the issues were being moved over to a new trading platform.
NYSE is in the process of moving all of its markets - including bonds, options, futures and cash equities - in the United States and Europe to a universal electronic trading platform.
The New York-based company's European markets have been fully integrated with the new system, and the exchange is now in the process of moving over its roughly 3,800 U.S. cash equities issues to the new platform, with about 800 having been migrated so far, Adamonis said.
The migration will continue to be rolled out through the rest of the year, he added.
(Reporting By John McCrank; Editing by Leslie Adler)
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