Some traders took to Twitter on Wednesday morning after experiencing several minutes in which quotes for some NYSE-listed stocks disappeared completely.
What Happened: According to the NYSE, there were no disruptions on the exchange, and the issues likely stemmed from the Consolidated Tape Association.
Related Link: Payment For Order Flow Explained: Why Zero-Commission Trades Aren't Really Free
“There was no problem with the exchange today, but the Consolidated Tape performed a restart,” Farrell Kramer, head of NYSE Communications, told Benzinga.
On its website, the CTA posted a notice addressing the issue.
“Due to a software issue, CTS and CQS were restarted at the primary data center to restore multicast output line processing as of 11:32:21. CTS and CQS are now processing as normal,” the CTA reported.
The processing issue was first logged at 11:34 a.m. EST on Wednesday morning and then marked resolved 5 minutes later at 10:39 a.m. EST.
Why It’s Important: The CTA oversees the worldwide dissemination of real-time trade and quote data generated by Intercontinental Exchange Inc ICE exchanges, including the NYSE, Bats, NYSE Arca, and NYSE American.
Most retail stock traders get real-time stock quotes from the CTA for free via their online brokerage.
Benzinga’s Take: It appears Wednesday morning’s issue was a relatively minor technical glitch by the CTA, but stock trading was not disrupted on the NYSE at all. While traders may have been frustrated by even 5 minutes in the dark without quotes, a certain amount of technical difficulties comes with the territory when virtually every aspect of global financial markets is now online.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
