Trading on Nasdaq securities stopped due to technical issues

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US stock exchanges today stopped trading in all securities listed on the Nasdaq due to a technical issue in the data feed providing market data for Nasdaq-listed securities.

Nasdaq-listed stocks represent about 28 per cent of all shares traded so far this month, according to BATS Global Markets. Companies listed on the Nasdaq include Apple, Microsoft, Dell and Cisco.

Trading was halted at 17:15 (BST) with this announcement:

Due to issues with quote dissemination to the UTP SIP, NASDAQ BX and PSX are halting trading in Tape C securities until further notice.

Tape C securities are those traded on the Nasdaq – contrast with Tape A (New York Stock Exchange) and Tape B (regional).

The Nasdaq Composite Index was halted at 3,631.17, up 0.87 per cent from the previous close.

Another alert at 17:28 showed Nasdaq halted all trading in options as of 17:20.

Source: Yahoo

Here are the updates (times are in Eastern Time):

  • 12:40:40 – NASDAQ Options Market (PHLX, NOM and BX Options) System Update: Due to the ongoing equity SIP issue NASDAQ (PHLX, NOM and BX Options) reccommends that firms route all open orders away. If firms need assistance with cancling orders please contact Market Operations at 215-496-1571.
     
  • 12:32:34 (PHLX) NASDAQ OMX PHLX has halted trading in Options as of 12:20:18
     
  • 12:28:26 (PHLX) We have halted trading in options as of 12:20:18 .
     
  • 12:23:43: The UTP SIP is currently investigating an issue. All UQDF channels are not disseminating data. The UTP SIP will advise.
     
  • 12:22:14 ALL NASDAQ Options Markets (PHLX, NOM and BX Options) is halting trading due to the equity SIP issue.
     
  • 12:21:24 Due to issues with quote dissemination to the UTP SIP, NASDAQ BX and PSX are halting trading in Tape C securities until further notice.

As per the rules of the Nasdaq, the exchange will re-open with a halt cross with a 5-minute quote only period. This will happen at a time yet to be determined. The exchange will not cancel open orders on the book.

There seems to have been little market reaction.