Shortly after noon, Nasdaq OMX ceased trading in all listed securities, citing a quote dissemination issue. Heavily traded names such as Apple Inc. (NASDAQ:AAPL) and Facebook Inc (NASDAQ:FB) are being affected. In response, the New York Stock Exchange halted trading in all Nasdaq names and is cancelling any outstanding orders.
The Securities and Exchange Commission (SEC) is in communication with Nasdaq officials to monitor further developments.
At the time it was halted, the Nasdaq Composite (COMP - 3,631.17) was sitting up 31.4 points, or 0.9%.
Please check back for additional information as it breaks.
Update, 1:22 p.m. ET:
The Nasdaq has said trading will resume "shortly" in Nasdaq securities -- also known as "Tape C" issues. The exchange warned it will not automatically cancel open orders, but that customers wishing to cancel any outstanding orders will be able to do so.
The outage was reportedly spurred by a market data feed. Earlier today, the Arca electronic stock exchange experienced technical difficulties on certain issues.
The COMP has been halted since 12:14 p.m. ET.
Update, 2:02 p.m. ET:
Investors are nervously awaiting the resumption of trading on the Nasdaq, which exchange officials advised would be "soon" at 1:06 p.m. ET.
Occurring at 12:14 p.m. ET, the outage has been the longest intraday interruption in recent history. (In 1987, the Nasdaq was halted for 82 minutes after a wily squirrel caused a power outage, ending his life in the process.)
As trading continues elsewhere, the Dow Jones Industrial Average (INDEXDJX:.DJI - 14,961.13) is up 63.6 points, or 0.4%, as it attempts to break its six-day losing streak.
Update, 2:29 p.m. ET:
Nasdaq OMX officials have indicated that trading will resume in symbols ZVZZT (a Nasdaq test stock) and AAIT at 2:45 p.m. ET. Ahead of this, it will hold a 15-minute quote-only period, similar to the quarter-hour immediately before an IPO begins trading. All other securities will begin a 15-minute quote-only period at 2:55 p.m. ET, with trading scheduled to begin at 3:10 p.m. ET.
Customers who wish to cancel any outstanding orders should do so before trading resumes.
Update, 3:06 p.m. ET:
The Nasdaq will re-open for full trading at 3:25 p.m. ET (not 3:10 p.m. as originally reported).
Update, 3:37 p.m. ET:
Nasdaq securities resumed trading at 3:25 p.m. ET after being halted for three-plus hours. The COMP continues to move steadily higher, and is now up 34.7 points, or roughly 1%, at 3,634.50.
9 Levels to Watch for Apple Inc.
Featured Partners: AOL DailyFinance
© 2013 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242
Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: firstname.lastname@example.org
All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.
Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.