Trading at the NYSE Euronext’s NYSE MKT exchange was halted briefly today. What is important here is not that the trading halt barely last two minutes, but that more than 400 symbols were temporarily unavailable for trading. This is not a miniature flash crash but an unavailable crash for electronic traders.
Trading issues come up from time to time and they will likely only keep coming up in the future. No matter how much effort the exchanges take, there is just a myriad of things that can wrong with electronic trading systems. Most technology workers know by now that what can go wrong will go wrong. The trick is to keep the instances of failure to a minimum.
The NYSE MKT trading unit said, “The NYSE MKT cash equities market resolved an issue that occurred between 13:15:22 and 13:17:23. Order processing and trade execution in the NYSE MKT’s 446 symbols were temporarily unavailable. All NYSE MKT trading systems are functioning normally.”
The reality is that this is not one of those instances where the nuisance likely resulted in catastrophic financial failure because there was not much happening in the market at the time. Still, investors remain on shaky ground and trusting financial markets is still very toughy for many investors.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
