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NYSE Has Identified, Fixed Source Of Market Platform Failure

zerohedge.com / by Tyler Durden / Mar 20, 2017 8:50 PM

Update: the underlying cause of the disruption to the NYSE Arca Equities trading platform has been identified and remediated, NYSE said in statment on its website.  As reported earlier (see below), the platform experienced a system issue on March 20 resulting in a subset of symbols failing to conduct a closing auction or transition from the regular trading session to the late trading session at 4pm New York time. The Exchange suspended trading in all symbols at approximately 4:13pm and cancelled all open orders

The statement released moments ago is presented below:

On March 20, 2017, the NYSE Arca Equities trading platform experienced a system issue resulting in a subset of symbols failing to conduct a closing auction or transition from the regular trading session to the late trading session at 4:00 p.m. The Exchange suspended trading in all symbols at approximately 4:13 p.m. and cancelled all open orders. In securities that failed to transition from the regular trading session to the late trading session, orders designated for the regular trading session may have executed after 4:00 p.m. The Exchange invoked its procedures for determining the Official Closing Price (“OCP”) when the Exchange is unable to conduct a closing transaction in one or more listed securities due to a systems or technical issue. OCPs for NYSE Arca-listed securities were subsequently transmitted to the SIP, which can be found here.

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