US stock exchanges on Thursday halted trading in all securities listed on the Nasdaq Stock Market for more than three hours due to a technical issue.
US stock exchanges on Thursday halted trading in all securities listed on the Nasdaq Stock Market because of a technical issue. The halt began at 12:15 p.m. ET Thursday, and other exchanges followed suit, with trade resuming at 3:25 p.m. ET.
“Earlier this afternoon, NASDAQ OMX became aware that price quotes were not being disseminated by the Securities Industry Processor (SIP), which consolidates and disseminates all prices for the industry,” it said in a statement. “Responding to the issue, in order to protect the integrity of the markets, Nasdaq OMX issued a regulatory halt for all trading in NASDAQ-listed securities.”
The exchange said technical issues with the SIP were resolved in the first 30 minutes. For the remaining period of time, Nasdaq, other exchanges, regulators and market participants coordinated with each other to ensure an orderly re-opening of trading in Nasdaq-listed securities.
In a late-thursday statement, Nasdaq said it had identified and addressed the cause of the problem. "There was a connectivity issue between an exchange participant and the SIP, which lead to a degradation in the ability of the SIP to disseminate consolidated quotes and trades."
