New York - Officials from the US Securities and Exchange Commission met with top executives of the New York Stock Exchange on Thursday to learn more about what caused Wednesday's nearly four-hour trading halt on the exchange, the regulator said.
“At the direction of Chair Mary Jo White, Director of Trading and Markets Steve Luparello is meeting with senior NYSE officials today in New York to further review yesterday's events and NYSE's plans going forward,” a spokeswoman from the SEC said in a statement.
NYSE said earlier on Thursday that the outage was the result of a technical problem that stemmed from new software rolled out the previous evening.
The unit of Intercontinental Exchange said on Thursday that the glitch caused communication problems between one of its trading units and NYSE customers as they began connecting to the exchange at 7am EDT (11h00 GMT) on Wednesday morning.
NYSE said it attempted to fix the problem before the market opened, but customers were still reporting “unusual system behaviour” midmorning, and it decided to halt trading.
The exchange said it then began cancelling all open orders and reaching out to its customers as it worked to solve the problem.
Trading in NYSE-listed stocks continued uninterrupted on other exchanges.
The NYSE came back online shortly after 3pm, once the technical issues had been resolved.
Reuters