Electronic Trading Continues After NYSE Outage

A halt of NYSE's floor trading doesn't stop price discovery in the U.S. markets.

sumit
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Senior ETF Analyst
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Reviewed by: Sumit Roy
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Edited by: Sumit Roy

Technical issues forced the New York Stock Exchange to halt trading on all symbols today, injecting some jitters into a market that was already grappling with Greece- and China-related volatility.

 

The trading halt, which began around 11:30 a.m. ET and ended at 3:10 p.m., according to CNBC, only affected floor trading, which typically accounts for a quarter of all volume for NYSE-listed securities. The NYSE's electronic Arca exchange was unaffected, allowing for stocks and ETFs to continue trading.

 

Likewise, other exchanges—such as Nasdaq—reported no problems, and stocks and the broader market continued to fluctuate as normal for the most part.

 

Based on the current evidence, the NYSE halt seems to have been a technical outage and nothing more. Of course, that didn't keep some market commentators from throwing around more interesting theories.

 

Pushing back against such rumors, White House Press Secretary Josh Earnest remarked that the NYSE outage was unlikely the result of a cyberattack, and there were no indications it was linked to the computer problems that grounded United Airline flights earlier in the day.

“There is no indication that there are malicious actors involved,” he said.

 

 

Sumit Roy is the senior ETF analyst for etf.com, where he has worked for 13 years. He creates a variety of content for the platform, including news articles, analysis pieces, videos and podcasts.

Before joining etf.com, Sumit was the managing editor and commodities analyst for Hard Assets Investor. In those roles, he was responsible for most of the operations of HAI, a website dedicated to education about commodities investing.

Though he still closely follows the commodities beat, Sumit covers a much broader assortment of topics for etf.com, with a particular focus on stock and bond exchange-traded funds.

He is the host of etf.com’s Talk ETFs, a popular video series that features weekly interviews with thought leaders in the ETF industry. Sumit is also co-host of Exchange Traded Fridays, etf.com’s weekly podcast series.

He lives in the San Francisco Bay Area, where he enjoys climbing the city’s steep hills, playing chess and snowboarding in Lake Tahoe.