Nasdaq Inc. experienced a disruptive system error on Wednesday that had widespread consequences for numerous stock orders, with some being canceled.
The exchange operator promptly informed market participants of an ongoing investigation into an order-entry issue that led to inaccuracies and delays. Sources requested anonymity when discussing the private matter.
The glitch specifically affected Nasdaq’s electronic communication channel responsible for processing Financial Information Exchange (FIX) messages.
The incident unfolded around 2:30 p.m. New York time, involving “certain FIX/RASH order entry ports,” according to an emailed statement from Nasdaq.
The statement did not provide further details on the root cause but assured stakeholders that efforts were underway to promptly resolve the issue and ensure correct execution reports.
“We are working to reach a prompt resolution to deliver the correct execution reports,” Nasdaq stated.
It was confirmed that the impacted entry ports would remain closed for the remainder of the day.
Despite the disruption, Nasdaq reassured the public that the “closing cross was completed, and all other markets are operating normally.”, reported Bloomberg.
