NASDAQ experiences system error
Securities Information Processor fails to disseminate information
NASDAQ OMX became aware early Friday that the Securities Information Processor that consolidates and disseminates all prices for the industry was not disseminating price quotes, the company said in a press release.
There was a connectivity issue between an exchange participant and the SIP, which led to degradation in the ability of the SIP to disseminate consolidated quotes and trades.
Since then, the cause of the issue has been identified and addressed.
“The continuous and orderly functioning of the securities markets is critically important to the health of our financial system and the confidence of investors,” U.S. Securities and Exchange Commission Chair Mary Jo White said.
“Today’s interruption in trading, while resolved before the end of the day, was nonetheless serious and should reinforce our collective commitment to addressing technological vulnerabilities of exchanges and other market participants,” she added.