Nasdaq Glitch Delays Some Quotes Early Wednesday
August 10 2011 - 10:33AM
Dow Jones News
The Nasdaq Stock Market experienced a glitch Wednesday morning
that resulted in quoting delays in the first two minutes of trading
action, according to a trader notice.
The problem in Nasdaq's Market Maker Automated Quotation System
caused some quotes not to be entered into the market in a timely
manner from just prior to the open at 9:28:01 a.m EDT until 9:31:58
a.m., the notice said. It wasn't immediately clear how many quotes
were affected. Nasdaq officials declined to comment.
The 9:46 a.m. notice said all market-maker quotes were current
as of 9:32:15 a.m. Wednesday morning.
The stock market saw another bout of rough trading early
Wednesday as the Dow Jones Industrial Average sank 259 points to
10982 as 10 a.m. EDT approached.
The New York Stock Exchange put into effect its so-called "Rule
48" before Wednesday's open, the second time this week. The
procedure aims to smooth the opening of trading on a session that
is likely to get volatile.
-By Brendan Conway, Dow Jones Newswires; (212) 416-2670;
brendan.conway@dowjones.com
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