Trading On Some NASDAQ-Listed Stocks Halted By Direct Edge

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Trading On Some NASDAQ-Listed Stocks Halted By Direct Edge
<a href="https://pixabay.com/users/Clker-Free-Vector-Images/">Clker-Free-Vector-Images</a> / Pixabay

Less than two weeks after a major outage affected all stocks listed on the NASDAQ for three hours, the exchange experiences another outage. Although the exchange reported that trading was not affected by the outage, Bloomberg reports that Direct Edge Holdings briefly halted trading on all NASDAQ-listed stocks with symbols between PBCP and ZZZZ.

Trading On Some NASDAQ-Listed Stocks Halted By Direct Edge

Another outage linked to NASDAQ’s data feed

According to CNBC, the problem this time around was an issue with the main data feed—the same feed that was responsible for the last big outage. NASDAQ OMX Group, Inc. (NASDAQ:NDAQ), the operator of the NASDAQ exchange, told the network that there was a brief outage in the Securities Information Processor.

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The outage occurred in one of the quote dissemination channels and lasted just a few minutes—from 11:35 until 11:41 a.m. According to NASDAQ, the problem was fixed as of 12:05 p.m., and staff members were reviewing what happened. The exchange said trading was not impacted by the outage, although Direct Edge did halt trading on NASDAQ-listed securities temporarily. Trading has since resumed on those securities through Direct Edge.

According to a report by Jacob Bunge of The Wall Street Journal, the outage “briefly halted trading in certain stocks on some exchanges.” NYSE Arca told customers that it stopped receiving public quotes from NASDAQ’s data feed in all of its symbols between 11:35 and 11:44 this morning. However, NYSE Arca said its systems did operate normally throughout the outage at NASDAQ.

The outage today was much smaller in scale than the one that happened on Aug. 22, but it comes as NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) is preparing for a meeting with regulators about the outage on Aug. 22. The Securities and Exchange Commission told CNBC that it is speaking with NASDAQ and keeping an eye on developments regarding the data feed problem being experienced by the exchange.

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