Connect to share and comment

New York Stock Exchange glitch stops trading in 216 companies

The New York Stock Exchange suspended trading in 216 companies, including US Steel and Travelers, for most of Monday's trading.

Nyse 2012 05 01Enlarge
Traders work on the floor of the New York Stock Exchange in New York City on May 1, 2012. (Spencer Platt/Getty Images)

It was not a good day for Wall Street.

The New York Stock Exchange suspended trading in 216 companies, including US Steel Corporation and Travelers, for most of Monday's trading after a computer glitch hit the system, the Financial Times reported.

The problems began early Monday as the exchange tried to "migrate" the stocks to new servers, the FT wrote.

Bloomberg News wrote the NYSE stopped trading and canceled closing auctions "because of an outage in a computer that matches buy and sell orders and process transactions."

“To the best of our knowledge, this was the first time that we didn’t use the NYSE closing auction,” Richard Adamonis, a spokesman for NYSE Euronext, told Bloomberg News. “The problem seemed to be a software programming issue related to the individual server for these 216 symbols.”

NYSE sent an email to traders saying it expected a “normal trading day in all securities” on Tuesday.

The Financial Times said it is the latest in a series of high-profile, tech glitches and follows Facebook's botched initial public offering on the Nasdaq.

http://www.globalpost.com/dispatch/news/business/121112/new-york-stock-exchange-glitch-stops-trading-216-companies