Computer problem stops floor trading at NYSE
— -- NYSE/CONNECTIVITY (URGENT):NYSE server issue halts trading in GE, other shrs
Traders were frustrated for about 40 minutes Friday when a computer glitch stopped trading in more than 200 stocks on the floor of the New York Stock Exchange.
One of the key computer servers used to conduct trading lost connectivity to the trading network between 11:30 a.m. and 12:10 p.m. ET. The outage affected 242 stocks, including such heavyweights as General Electric and ExxonMobil.
Trading in those shares was halted on the floor of the NYSE until a backup server was put in place, says NYSE spokesman Ray Pellecchia.
"It was a single server with a connectivity problem. It lost its connection to the network. It created an issue getting orders were they needed to go," Pellecchia says.
Investors who may have bought or sold the affected stocks have no reason to worry about getting an incorrect price, Pellecchia says. Any trades sent to the NYSE during the time of the outage were immediately canceled and the brokers notified.
In addition, all the affected stocks were continuously traded electronically on the NYSE's electronic Arca system as well as on other exchanges, including the Nasdaq.
Many of the traders on the floor of the NYSE can also place trades electronically. If a trade was denied during the time the NYSE's system was down, it would have be rerouted temporarily to an alternative market or exchange.
"We'll review the problem tonight," Pellecchia says. "But it's back to business as usual."
Related Stories
ABC News Live