The New York Stock Exchange temporarily suspended trading on Tuesday, and the loss was estimated at 8 figures (AFP file photo)

[Financial Channel/Comprehensive Report] Following a series of failures on the New York Stock Exchange since the flash crash in 2010, another failure occurred on Tuesday, causing a large number of stocks to fluctuate abnormally at the opening, and trading was temporarily suspended. The US Securities and Exchange Commission is investigating. The loss caused by the suspension of trading, a person at a large brokerage firm who asked not to be named said that the exact loss is not yet clear, but the cost to brokers and retail traders may be in the eight figure range.

Reuters reported that a glitch on the New York Stock Exchange on Tuesday prevented trading of a large number of stocks after the opening bell, leading to widespread trading halts, confusion over whether orders were filled at the correct price, and trades in more than 250 securities were disrupted.

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The NYSE, which is owned by Intercontinental Exchange (ICE.N ), said a "system issue" prevented the opening of some listed securities, which started trading without an open, resulting in incorrect prices, the exchange said it would be announcing. is invalid.

According to the NYSE website, the main companies affected include Exxon Mobil (XOM.N), 3M (MMM.N), Verizon (VZ.N), McDonald’s (MCD.N), Wells Fargo (WFC.N ) and shares of major companies like Walmart (WMT.N).

The companies did not immediately respond to a request for comment.

Triple D Trading trader Dennis Dick (Dennis Dick) said, "It seems that what happened was a technical glitch, and all my opening orders on the New York Stock Exchange were automatically canceled, although some of them should have been completed; they have now." Corrected this, but it would be a pain to clean up.

The SEC said it was reviewing the issue.

The exact cost of the glitch was unclear, but the cost to brokers and retail traders was likely in the eight-figure range, said a person at a major brokerage firm who spoke on condition of anonymity.

Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, N.J., said there were clearly a lot of stocks that had major problems; he noted that traders had "zero tolerance" for glitches at key openings and closings. .

"It was a failure without any sugar coating," Saluzzi said.

"People who lose money today must be unhappy."

For this glitch, the SEC is considering an auction, where most retail stock orders are arranged, with the goal of getting individual investors better prices.

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