NYSE glitch caused by manual error, 4.3K trades declared void
Jan. 25, 2023 9:57 AM ETIntercontinental Exchange, Inc. (ICE)VZ, MCD, MMM, MS, MO, MKTXBy: Jessica Kuruthukulangara, SA News Editor44 Comments
- The New York Stock Exchange said Wednesday the glitch seen in its platform a day earlier was caused by a manual error, and declared ~4.3K trades in 251 tickers as void.
- All exchange systems are now operational, Intercontinental Exchange's (NYSE:ICE) unit NYSE said.
- On Tuesday, NYSE began continuous trading in 2.8K of 3.4K listed stocks without attempting an opening auction due to a technical issue.
- Because of this, ~84 of the impacted tickers entered Limit Up-Limit Down pauses.
- Continuous trading resumed after meeting LULD plan reopening requirements for the impacted tickers.
- NYSE later said certain trades would be declared null and void subject to certain conditions.
- The exchange determined that ~4.3K trades in 251 tickers should be busted. Most of the trade breaks were processed on January 24.
- NYSE plans to process the remaining trade breaks on January 25.
- Some high-profile impacted stocks included: Altria (MO), 3M (MMM), Morgan Stanley (MS), McDonalds (MCD), and Verizon Communications (VZ).
- A day earlier, an unusually high number of stocks were halted at NYSE open.