Nasdaq resolves system glitch that affected thousands of stock orders
Nasdaq Inc witnessed a system error on Wednesday that impacted thousands of stock orders and affected over 50 clients, leading to cancellation of some orders.
According to reports, Nasdaq’s electronic communication channel was affected. This system processes the financial information exchange or “FIX” messages.
The exchange operator said it resolved the system issue after rolling back the concerned application to a previous version, according to a notice on its website.
The incident started around 14:31 ET (1931 GMT) on December 13 after the Nasdaq’s ‘FIX/RASH order’ handling system experienced an issue caused by a duplicate internal order ID, the notice said.
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FIX or Financial Information Exchange is a message protocol that defines an electronic message exchange for communicating securities transactions between two parties, Reuters reported.
As per the notice, while investigating the issue, Nasdaq decided to shut down the FIX/RASH order handling system, block all new orders, and cancel any open orders back to customers.
“Nasdaq is confident that the corrective action fully addresses the issue and is ready for tomorrow’s trading,” it said.
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Some customers saw inaccuracies and delays in the delivery of execution reports, the exchange operator said in an emailed statement earlier on Wednesday, Reuters reported.
“FIX/RASH was closed down for the rest of the day. The closing cross was completed and all other markets are operating normally,” the exchange added.
(With inputs from Agencies)
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Published: 14 Dec 2023, 11:30 AM IST
