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The NYSE, which is owned by Intercontinental Exchange Inc (ICE.N), said a "system issue" prevented the opening auctions in a subset of its listed securities. The stocks began trading without an opening print, causing erroneous prices that the exchange said will be declared null and void. NYSE ended the day with a normal market close and expected a regular open on Wednesday, Blaugrund added. The NYSE-listed stocks trade on all 16 U.S. stock exchanges, which use the NYSE's prices. In March 2018, the NYSE was the first exchange fined under Reg SCI.
The NYSE, which is owned by Intercontinental Exchange Inc (ICE.N), said it was still investigating and that traders may want to consider filing for erroneous trade claims. "Obviously, there were a lot of stocks that had major issues," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey. Saluzzi said there was "zero failure tolerance" among traders for glitches at the key open and close of trading. The NYSE-listed stocks trade on all 16 U.S. stock exchanges, which use the NYSE's prices. In March 2018, the NYSE was the first exchange fined under Reg SCI.
The NYSE, which is owned by Intercontinental Exchange Inc (ICE.N), said it is still investigating the issue and that traders may want to consider filing for erroneous trade claims. "What appears to have happened is a technical glitch where all of my opening orders on the NYSE autocancelled even though some of them should have been fulfilled," said Dennis Dick, trader at Triple D Trading. The gaffe with the NYSE's opening auction comes as the SEC is considering routing most retail stock orders through auctions with the aim of getting individual investors better prices. The NYSE-listed stocks trade on all 16 U.S. stock exchanges, which use the NYSE's prices. The $14 million fine partly related to a nearly four-hour trading halt in July 2015 that resulted from a flawed software rollout.
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