Skip to main content

Newsroom

August 28, 2013

Exclusive: Nasdaq pricing system focus of SEC outage review – source

The U.S. securities regulator is focusing its investigation into the Nasdaq outage on why a system for distributing stock prices and quotes was not robust enough, and believes a spat between exchanges is a distraction, a source familiar with the matter said on Tuesday.

Nasdaq, a unit of Nasdaq OMX Group Inc, halted trading in the thousands of shares listed on its platforms on Thursday, after finding that a system that consolidates stock prices – the Securities Information Processor, or SIP – wasn’t working properly.

The blackout was preceded by connectivity issues between the SIP and Arca, the electronic platform of NYSE Euronext (NYX.N). Reuters reported on Monday the two rivals are now blaming each other for the debacle.”

***

Read full Reuters article here

In the News
Share

MEDIA REQUESTS

For media inquiries, please contact us at
press@bettermarkets.org or 202-618-6433.

Contact Us

For media inquiries, please contact press@bettermarkets.org or 202-618-6433.

To sign up for our email newsletter, please visit this page.

Name(Required)
This field is for validation purposes and should be left unchanged.

Sign Up — Stay Informed With Our Monthly Newsletter

This field is for validation purposes and should be left unchanged.

For media inquiries,

please contact press@bettermarkets.org or 202-618-6433.

Donate

Help us fight for the public interest in our financial markets, protecting Main Street from Wall Street and avoiding another costly financial collapse and economic crisis, by making a donation today.

Donate Today