Software update caused NYSE suspension

An incompatibilty between new software and customers' systems was the cause

An incompatibility with a software update and subsequent attempt to fix it were the root cause of glitch that forced a nearly four-hour long suspension of trading on the New York Stock Exchange on Wednesday.

The exchange traced the problems back to an update applied to a single system on Tuesday evening. The new software was related to an upcoming industry-wide test of a new timestamp procedure for communications.

On Wednesday morning as customers began connecting to the system, communications issues arose because of an incompatibility between the new software and configurations in customer systems. The software in the customer systems was updated prior to the market open at 9:30 a.m. EDT, but that update caused additional issues, the NYSE said in a statement.

The issue was investigated shortly after 11 a.m. and within 30 minutes, the exchange took the decision to suspend trading.

It remained suspended until just after 3 p.m. EDT, when the market restarted for the final hour of trading.

The NYSE accomplished that by switching over to back-up servers at a Mahwah, New Jersey data center that were not loaded with the new software.

The suspension hit the headlines around the world because it was one of the biggest disruptions faced by the NYSE in years, but its actual impact was muted because NYSE-listed stocks continued to trade on other exchanges.

It came hours after a glitch grounded hundreds of United Airlines flights across the country, but the NYSE and White House moved quickly to dispel fears that the outage was caused by a cyberattack. United Airlines later said its problems were traced to a faulty network router.

Martyn Williams covers mobile telecoms, Silicon Valley and general technology breaking news for The IDG News Service. Follow Martyn on Twitter at @martyn_williams. Martyn's e-mail address is martyn_williams@idg.com

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags New York Stock Exchangefinanceindustry verticals

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Martyn Williams

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?