NYSE Euronext suspended trading in over 200 stocks
on the New York Stock Exchange on Monday due to a technical problem with a
server, although the stocks in question continued trading on other markets. According to Reuters there
were no closing auctions in the affected stocks and a list of the official
closing prices for the securities, based on the consolidated last sale, was
distributed via email and NYSE's website.
The NYSE first alerted traders it was having problems with
one of its cash equity matching engines at 9:38 a.m. and it said it would not
publish quotes on a total of 216 stocks, including CVS Caremark Corp (CVS.N)
and Lazard Ltd (LAZ.N). Nasdaq OMX Group
Inc (NDAQ.O), BATS Global Markets and Direct Edge exchanges stopped sending
orders to the NYSE, declaring "self help" against the exchange.
"Orders were coming in, but those who were issuing the
orders were not getting their confirmations or their reports, so we felt it was
best to zero it out, if you will, and then to suspend trading of those stocks
on our market," said a NYSE spokesman…. The NYSE said any open orders
should be considered canceled...
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