Trading on the New York Stock Exchange (NYSE) came to a halt Wednesday.
“We're currently experiencing a technical issue that we're working to resolve as quickly as possible,” according to an NYSE statement emailed to SCMagazine.com. “We will be providing further updates as soon as we can, and are doing our utmost to produce a swift resolution, communicate thoroughly and transparently, and ensure a timely and orderly market re-open.”
Following the statement, three tweets were posted to the NYSE Twitter account: “The issue we are experiencing is an internal technical issue and is not the result of a cyber breach," one said. "We chose to suspend trading on NYSE to avoid problems arising from our technical issue," said another. "NYSE-listed securities continue to trade unaffected on other market centers," the third tweet noted.
Trading came to a halt in New York a little after 11:30 a.m., the AP reported, adding that shares continue to be traded on other exchanges such as Nasdaq.
According to a NYSE market status history website, connectivity issues – reported earlier in the day and seemingly resolved prior to 9:30 a.m. – may have impacted certain orders.
Stay tuned to SCMagazine.com for continued coverage of this developing story.
UPDATE: An update on the NYSE market status history website confirmed that trading halted in New York at 11:32 a.m. – it said all open orders, including MOC, LOC, and CO have been cancelled and GTCs will remain active when normal market activity resumes. Citing, Sal Arnuk, a principal at Themis Trading, CNBC reported that all electronic trades must be nullified manually. Citing an anonymous trader on the floor of the exchange, The New York Times reported that traders were told that the problem is related to updated software released prior to markets opening on Wednesday.
UPDATE 2: A NYSE spokesperson told SCMagazine.com that trading has resumed.