NYSE: Bad software upgrade reason for outage

Asian stock markets rebounded on Thursday led by gains on China’s main index, which jumped after government measures aimed at stabilizing the market took hold.

At 7 a.m. Wednesday, communication issues were already being detected between customer gateways and the trading unit, according to a press release. “How many times do you get to work everyday because of local traffic?” Later, NYSE explained the “root cause was determined to be a configuration issue”. A NYSE spokeswoman would not provide further details. President Barack Obama was briefed on the situation by Department of Homeland Security, which ruled out a cyber terrorism attack the prospect of which has long anxious politicians, regulators and traders.

The Dow ended up 33 points on the day, but that represents a disappointment considering it was almost 250 points in the green shortly after the opening bell.

In March 2012, BATS, the rival exchange, canceled an initial public offering of its own stock after several technical snafus on its exchange.

CNN Money reports that the NYSE had been having issues throughout the day Wednesday, before the shut down. “You have so many competing exchanges”.

And the NYSE is functioning as normal today.

Asking all exchanges, clearing corporations and depositories to implement necessary changes within six months, Sebi said these Market Infrastructure Institutions (MIIs) need to have a robust cyber security framework to provide essential facilities and perform systemically critical functions of trading, clearing and settlement in securities market. “Things are so spread out”.

“I think the Wall Street Journal piece is connected to people flooding their web site in response to the New York Stock Exchange to find out what’s going on”.

The halt came after a technical snafu at United Continental that forced the nation’s second-biggest airline to ground dozens of flights. “It’s just unnerving”.

The issue seemed to be confined to the New York Stock Exchange. “Computers dominate our lives”. It is now owned by Intercontinental Exchange, an Atlanta-based company.

Greece is in the midst of a debt crisis that could cause it to default on the European Central Bank.

Getting back up and running prior to the 4 p.m. close was important for the market structure role the NYSE plays, Farley said. Britain’s FTSE 100 added 0.9 percent.