The New York Stock Exchange stopped trading in 216 securities yesterday and canceled their closing auctions because of an outage in a computer that matches buy and sell orders and process transactions.
As market officials told the public last week they planned to open after Hurricane Irene, the New York Stock Exchange worked on contingency plans that would have moved its trading to an electronic venue.
Stocks and commodities rose as Europe’s leaders reached a budget agreement, China’s trade expanded more than estimated and companies posted better-than- forecast earnings. Spanish bonds gained and the yen rallied.
U.S. regulators should publish a schedule for when all Dodd-Frank Act rules will take effect to smooth a “haphazard implementation process” that is hurting the economy by perpetuating uncertainty, Representative Scott Garrett said in a letter.
The four largest U.S. stock market operators asked the Securities and Exchange Commission to delay implementation of rules governing how brokers send orders to venues, including a ban on unsupervised, or “naked” market access given to some high-frequency traders.