22 August 2013

NASDAQ Trading Halted, Now Scheduled to Resume at 3:25 PM

As I am sure you have heard NASDAQ trading for stocks and options was halted earlier today around 12:23 PM because of a computer trading glitch. It is now scheduled to reopen for trading at 3:25 PM although quite a few stocks are now showing quotes.

The NDX (Nasdaq 100) futures never stopped trading.

Two NASDAQ listed stocks, Autodesk and Scansource, will report their financial results after the bell as scheduled.

NEW YORK (AP) — Another computer glitch is sowing confusion on Wall Street.

Trading in the Nasdaq, a major stock exchange dominated by the biggest names in technology, was halted shortly after midday Thursday due to an unknown technical glitch. Nearly two hours later, trading was still frozen. Other exchanges were trading normally.

The disruption sent brokers scurrying to figure out what went wrong and raised new questions about the pitfalls of computer-driven stock trading.

Thursday's Nasdaq freeze echoed earlier stock market snafus, such the sudden plunge in stocks in May 2010 that came to be known as the "flash crash" and the glitch-plagued initial public offering of Facebook last year.

The exchange sent out an alert to traders saying that trading was being halted until further notice because of problems with a quote dissemination system. Nasdaq said it wouldn't be canceling any open orders, but that customers could cancel orders if they wanted to...