S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Banking, finance, and taxes

NASDAQ Halt Brings Back Flash Crash Concerns

Photo of Jon C. Ogg
By Jon C. Ogg Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

stock symbol ticker
thinkstock
Do you remember the Flash Crash? NASDAQ OMX Group (NASDAQ: NDAQ) is proving yet again why there still needs to be some human control and interaction over the vast numbers of shares trading each day. The only good news is that this is not the same sort of halt from a Flash Crash.

The NASDAQ has been experiencing a trading halt in all major NASDAQ-listed securities, due to technical issues. Trading was halted shortly after Noon EST on Thursday. We have been told that the New York Stock Exchange, BATS and DirectEdge exchanges have also halted trading in NASDAQ-listed shares. The glitch is said to be tied to the quote dissemination system.

NASDAQ OMX originally said it planned to reopen trading for a 5-minute quote-only period, but the reality is that if one exchange is halted for trading it grinds trading in other exchanges down to a halt.

Thursday’s halt also came at a time when the NASDAQ was up over 31 points or about 0.9%. As of 2:00 PM EST trading on NASDAQ remains halted.

UPDATE: NASDAQ will resume trade at 3:10 PM EST… Whoops, Now they say 3:25 PM EST.

Here is how bad the situation is if you look at the image from NASDAQ Trader’s website.

NASDAQ HALTS
Nasdaqtrader.com

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

A 70-Year-Old With $1.4 Million Faces a $62,000 RMD That Pushes Him Into a Higher Tax Bracket
Drew Wood |

A 70-Year-Old With $1.4 Million Faces a $62,000 RMD That Pushes Him Into a Higher Tax Bracket
A Couple's $1.2 Million Portfolio Faces a 3.9% Withdrawal Rate That Feels Safe but Is Not
Drew Wood |

A Couple's $1.2 Million Portfolio Faces a 3.9% Withdrawal Rate That Feels Safe but Is Not

Continue Reading

Jon C. Ogg |

Five Stocks That Will Cheer The Flash Crash Anniversary Passage (ACN, AAPL, CNP, EXC, PG)

Friday, May 6, 2011 will mark the one-year anniversary of the 2010 Flash Crash.  The Flash Crash has been blamed…
Jon C. Ogg |

SEC Seeks To Change Market Circuit Breakers

The Securities and Exchange Commission has announced that the national securities exchanges and FINRA are filing proposals in a move…
Jon C. Ogg |

What CME Will Save, and What Risks It Takes, Closing Trading Floors

CME Group's decision to close a large portion of its trading floor and open outcry operations in New York and…
Jon C. Ogg |

More Market Trading Errors and Issues, Stock Options Trading Halted

Photo by Spencer Platt/Getty ImagesIf you are getting sick and tired of glitches, errors, and “issues” all culminating to interrupt…
Jon C. Ogg |

Twitter Decides NYSE Listing Is Better Than NASDAQ

Frank Golhen, via Wikimedia CommonsIn the midst of the start of earnings season and in the midst of a Fitch credit ratings warning…
Jon C. Ogg |

NYSE MKT Hits Trading Glitch

Frank Golhen, via Wikimedia CommonsTrading at the NYSE Euronext’s NYSE MKT exchange was halted briefly today. What is important here is not…
247Editors |

High-Frequency Trading: A Grave Threat to the Markets and the Economy

-By Eric Philo High-frequency trading (HFT) is the extremely rapid trading of securities through the use of sophisticated hardware and…
Why an Extended Stock Market Halt Could Come From the COVID-19 Panic
Jon C. Ogg |

Why an Extended Stock Market Halt Could Come From the COVID-19 Panic

It is becoming increasingly obvious that traditional fiscal policies from central banks just aren't adding up to be enough to…
SunEdison Finally Files for Bankruptcy
Paul Ausick |

SunEdison Finally Files for Bankruptcy

SunEdison announced Thursday morning that it had voluntarily filed petitions for a Chapter 11 reorganization with the bankruptcy court for…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618