A huge influx of orders prevented the New York Stock Exchange from disseminating quotes shortly after the start of trading on Friday.
NYSE Euronext (NYX.N)(NYX.PA), the parent of the New York Stock Exchange, said the delays followed "an inordinate influx" of orders received as Friday's session got under way. Later in the session, the company had to temporarily transfer quote processing to a backup system.
The exchange's quote delays caused some tickers to be locked, but an NYSE spokesman said "trades are still going through." NYSE's Ray Pellecchia also told Reuters the cause of the problem was still under investigation, and declined further comment.
Traders who declined to be identified said the interruption was caused in part by the early sell-off as well as by NYSE technology.
The interruption on the NYSE and in the NYSE Amex cash equities trading was later resolved.
Equities were under pressure Friday, as the S&P 500 index fell 2.4 percent .SPX and the Dow industrials .DJI lost 2.2 percent, one day after the biggest percentage gain in more than three months.
Shares of NYSE Euronext slid 5.7 percent to $26.00 after the NYSE's parent company reported quarterly profits that exceeded estimates, helped by cost-cutting [ID:nLU559590]. (Reporting by Ellis Mnyandu and Caroline Valetkevitch, Editing by Jan Paschal) link...
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