Tags: amazon | alphabetm nasdaqm trading | halted

Nasdaq-Listed Amazon, Alphabet Halted for the Day at NYSE

Nasdaq-Listed Amazon, Alphabet Halted for the Day at NYSE
(Daniel Kaesler/Dreamstime)

Wednesday, 25 April 2018 02:15 PM

The New York Stock Exchange said on Wednesday that trading was suspended on its exchange in five stocks, including Amazon and Alphabet, for the rest of the day due to a technical glitch involving trade reporting.

The exchange, which is owned by Intercontinental Exchange Inc (ICE.N), said the suspension was due to a “price scale code” issue and any open orders in those securities would be canceled.

The securities can still be traded on other exchanges, including those run by Nasdaq Inc (NDAQ.O), where the affected stocks are listed, Cboe Global Markets (CBOE.O) and IEX Group.

Aside from Amazon.com (AMZN.O) and both Alphabet share classes (GOOGL.O)(GOOG.O), affected symbols included Booking Holdings (BKNG.O) and Zion Oil and Gas Equity Warrants ZNWAA.O.

A spokeswoman for the NYSE, Kristen Kaus, said the issue affected a small subset of clients whose trading reports in the affected symbols were being returned in an unexpected format, so the exchange suspended trading in the five securities to minimize customer impact.

There are 13 U.S. stock exchanges, around 40 private trading venues known as dark pools and dozens of single-dealer platforms. The NYSE trading suspension highlights the complexity of the fragmented market, but also its resiliency, given that stocks can trade elsewhere when one exchange has a problem.

The NYSE is one of last U.S. exchanges to have a physical trading floor, and prior to April 9, only securities that were listed on the exchange could be traded there. But following a recent technology upgrade, the NYSE said it would begin trading securities listed on other exchanges as well.

The trading suspension was not likely related to the technology upgrade, Kaus said.

In March, the NYSE and two of its affiliate exchanges were fined $14 million by the U.S. Securities and Exchange Commission, partly in response to a nearly four-hour trading halt in July 2015 that was the result of a flawed software roll out.

© 2020 Thomson/Reuters. All rights reserved.

1Like our page
Amazon.com Inc. and Google parent Alphabet Inc. won’t trade for the rest of the day on New York Stock Exchange’s markets -- a less-scary prospect than it might initially seem because they’re listed by Nasdaq Inc. and seem to be trading just fine there and on other platforms.
amazon, alphabetm nasdaqm trading, halted
Wednesday, 25 April 2018 02:15 PM
Newsmax Media, Inc.

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved