Nasdaq said in a notice to traders it halted trading on its Nasdaq Options Market, known as NOM, at 10:56 a.m. EDT. The halt came after an alert earlier in the morning that said Nasdaq was investigating problems with the market erroneously canceling some orders….
Nasdaq OMX’s other two options exchanges were operating normally, as was the exchange operator’s equities market, according to a spokesman. Nasdaq is investigating the issue, he said.
Nasdaq OMX said Friday it halted trading at 10:36 a.m. Eastern Time and announced at 2:10 p.m. that it would shut down options trading for the rest of the day. Regular stock trading on the Nasdaq Stock Exchange was not affected.
Remember those three hours when you couldn’t trade any Nasdaq-listed securities? It may not have come as such a surprise to some people, although they probably wish it had now that a Wall Street Journal reporter knows their little get-togethers in the six months leading up to Aug. 22. Read more »
Is there like a five-minute rule for equity traders and Nasdaq shutdowns? I suppose if you are at a bar now and not reading this because you took off after the first hour of Nasdaq down time, the joke is on you because it got better and all your more diligent competitors are making money while you’re not. Today’s session ended with about half an hour of what I will guess was some fairly drunken trading.
But for three hours this afternoon, not a lot of shares traded on Nasdaq. Here is Apple:
Update: And the winner is “Somewhere in DFW” with the closest time without going over (before an announcement was made with the actual time), 2:57PM. SIDFW, get in touch to collect your winnings! Read more »
In addition to rejoining the Harvard faculty in 2011, he jumped into a moneymaking spree. His clock was ticking partly because he knew that the Fed chairmanship, to which he has long aspired, was likely to open up in early 2014, when Ben S. Bernanke’s second term will come to an end…The opportunities have been many over the last two years. Mr. Summers, 58, has been employed by the megabank Citigroup and the sprawling hedge fund D. E. Shaw. He works for a firm that advises small banks as well as the exchange company Nasdaq OMX. And he serves on the board of two Silicon Valley start-ups: both financial firms that may pursue initial public offerings in the next year. One of them, Lending Club, offers loans to consumers and small businesses by making arrangements directly with online investors, a new business model that falls into a regulatory gap that consumer advocates say may lead to risky borrowing. [NYT]
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