Investing June 8, 2001

Software Glitch Halts NYSE Trading

June 8, 2001 (PLANSPONSOR.com) - Trading was suspended for almost four hours today at the New York Stock Exchange (NYSE) following a glitch in recently installed trading software.
Reported by

After software problems plagued the floor in early trading, the NYSE decided to close the entire floor at 10:10 a.m, reopening at 11:35 a.m.

Problems persisted at two of the main trading stations, which handle about 10% of the 3,500 NYSE issues, halting trading in some stocks until 2:26 p.m.

The glitch affected trading of individual and index options based on NYSE stocks at other exchanges around the country since option prices are determined from the price of the underlying stock.

The NYSE, which prides itself on its systems and technology, last closed its doors due to a system failure in October 1998.


 

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