Tags: Nasdaq | stocks | data | price

Nasdaq Said to Plan End to Role Running Price Feed That Broke

Tuesday, 14 Jan 2014 01:42 PM

Nasdaq OMX Group Inc., which was forced to halt trading in August because of malfunctions in a nationwide price dissemination service it runs, plans to cede responsibility for running the feed, according to a person with direct knowledge of the matter.

Nasdaq’s decision means another company must be found to run the securities information processor, according to the person, who asked to not be identified because the decision is private. Nasdaq’s role is now poised to end on Jan. 1, 2016, according to another person with knowledge of the matter.

The three-hour halt for thousands of U.S. stocks on Aug. 22 was prompted by Nasdaq’s computers being overwhelmed by a deluge of data, and the failure of the exchange’s backup systems. The error prompted Securities and Exchange Commission Chairman Mary Jo White to demand the industry collaborate on making their technology more reliable.

Joseph Christinat, a spokesman for New York-based Nasdaq, declined to comment.

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Nasdaq OMX Group Inc., which was forced to halt trading in August because of malfunctions in a nationwide price dissemination service it runs, plans to cede responsibility for running the feed, according to a person with direct knowledge of the matter.
Nasdaq,stocks,data,price
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2014-42-14
Tuesday, 14 Jan 2014 01:42 PM
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