Bad software upgrade reason for outage

“Wonder if tomorrow is going to be bad for Wall Street….” “In my business, you don’t love coincidences, but it does appear that there is NOT a cyber intrusion involved”.

“I have spoken to the CEO of United, Jeff Smisek, myself”.

Due to unspecified defined technical problems NYSE stock market stopped the New York trade on Wednesday.

The Dow Jones industrial average rose 33 points, or 0.2 percent, to 17,548. Officials said it was the “most significant outage” since the Nasdaq “Flash Freeze” in August 2013.

The chairwoman of the U.S. financial watchdog SEC added in a statement: “We are in contact with NYSE and are closely monitoring the situation and trading in NYSE-listed stocks”.

President Barack Obama had been briefed on the NYSE suspension, said White House spokesman Josh Earnest.

The US Department of Homeland Security said there were no signs that the problems at the NYSE and United Airlines stemmed from “malicious activity”. The exchange did say, however, its trouble was not due to a cyber breach. But trading went on. Nasdaq later agreed to pay a $10 million penalty to settle federal civil charges after regulators said its systems and decisions disrupted the IPO.

“And while most of you can easily afford to sit back and watch, and not play during a period of mayhem, some industry players will not know their trading positions”, Themis said.

It took technicians hours to resolve the issue and all open orders had to be canceled manually. Concerns about China’s plunging stock market and a logjam in talks between Greece and its creditors weighed on the mood.

The outage came as traders had plenty of other things to worry about.

The S&P 500 was down 23 points, or 1.1 percent, to 2,057.

Walgreens Boots Alliance jumped 4 percent.

Now, stocks can be traded at some 60 exchanges and trading venues. Further traded is on the technology stock exchange NASDAQ. It is now owned by Intercontinental Exchange, an Atlanta-based company.

Also In 2012 NYSE opened up its data centres to outside telcos and service providers.

The NYSE updated the gateways with the correct version of the software.

At 7 a.m. Wednesday, communication issues were already being detected between customer gateways and the trading unit, according to a press release. The delay lasted more than three and a half hours.