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July 08, 2015 at 11:46 AM
The New York Stock Exchange began reopening its two equity venues that were shut down for hours Wednesday by a computer malfunction.
Shares started trading on the New York Stock Exchange, the biggest of the company’s platforms, and NYSE MKT, the third-largest, after 3 p.m. New York time, data compiled by Bloomberg showed. Because shares have been trading elsewhere, the NYSE was able to avoid having to re-establish its own prices through auctions.
“It’s not a big event, it’s a matter of flipping the switch and hoping the circuit doesn’t blow,” Thomas Caldwell, chairman of Caldwell Securities Ltd. in Toronto, said by phone. “Orders will be re-entered there and the book will build up.”
NYSE’s halt will go down as the biggest interruption to U.S. stock trading in two years. The last of comparable scope occurred in August 2013, when the Nasdaq Stock Market halted trading not only on its own platform, but anywhere stocks that it listed changed hands.
