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Nasdaq halts all trading

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posted on Aug, 23 2013 @ 07:41 AM

Nasdaq officials said the halt was prompted by a problem with the data system that disseminates prices and that its cause had been “identified and addressed.”

The breakdown came just two days after Goldman Sachs accidentally sent out a barrage of errant trades that disrupted the exchanges where options are bought and sold. The two episodes have amplified questions about the reliability and integrity of financial markets that companies depend on to raise money and Americans trust with their retirement savings.

While regulators and market participants have taken several steps to strengthen their systems, the problems this week suggest that the flaws in the markets have not been repaired, and may actually be getting worse.

“You have a very Rube Goldberg system,” said Gene Noser, co-founder of the brokerage firm Abel/Noser. “We’ve just put patches on it without attacking the basic problems.”

posted on Aug, 23 2013 @ 07:49 AM

Update: In an addendum to their initial comment, sent shortly before 7 p.m. in New York, Nasdaq said the problem originated in a “connectivity issue” between an exchange participant and the Securities Information Processor (SIP). The statement, which did not identify the other party, said the issue affected the ability of the SIP to disseminate trades and quotes to the broader market. Nasdaq says the issue has been identified and addressed.

Arca, operated by NYSE Euronext, NYX +1.50% is the unnamed exchange participant referred to in Nasdaq's statement, the people said.

posted on Aug, 23 2013 @ 08:07 AM
I wonder if this had anything to do with "connectivity issue" with NYSE Euronext, since it was just announced in the last couple of days...

"SEC Nod in Favor of ICE-NYSE Deal"

Based on the closing price of $185.80 of ICE on Aug 1, 2013, the company is acquiring NYSE for a purchase consideration of $10.6 billion, higher than the $8.2 billion takeover price decided earlier. Through the deal Intercontinental Exchange aims to reach out to newer markets and diversify among multiple asset classes.

This takeover will unite two leading exchange groups to ultimately form a diversified global exchange operator. This amalgamation would mark the evolution of the third largest global exchange group after Hong Kong Exchanges and Clearing, and CME Group Inc. (CME - Analyst Report). However, the deal requires approval from European national regulators before it is finalized. The combined entity is expected to be better positioned to compete and serve customers on a large scale.

posted on Aug, 23 2013 @ 08:28 AM
This puts a whole new spin on it too.

London - 9 July 2013 –

NYSE Euronext Rate Administration Limited, a subsidiary of NYSE Euronext (NYX), today announced that following a rigorous selection process conducted by the independent Hogg Tendering Advisory Committee, NYSE Euronext Rate Administration Limited has been appointed as the new administrator for LIBOR. The transfer of the administration from BBA LIBOR Ltd, the subsidiary of the British Bankers’ Association (BBA) is expected to be completed in early 2014, once the Financial Conduct Authority’s (FCA) authorisation of NYSE Euronext Rate Administration Limited is complete.

Following the recommendations of the Wheatley Review in September 2012, the Hogg Tendering Advisory Committee was mandated by both HM Treasury and the FCA to supervise the selection of a new LIBOR Administrator and to present its recommendations to the BBA. This process has now been concluded and NYSE Euronext Rate Administration Limited has been selected as the new administrator for LIBOR.

posted on Aug, 23 2013 @ 08:55 AM
If people dont know that the banks are ran by a small collective, inter-related. And the stocks are controlled from the inside; then there is no hope for such a blind an dumb race.

Your playing their game of monopoly, it was created for cheaters, liars, and stealers. Those are the rich bastards who control the big corperations and the stock exchange.

Its not really a puzzle when you look at the bigger picture.

posted on Aug, 23 2013 @ 09:14 AM
Are we all sure it was the banks trying to control the market or was it the banks trying to cover up the market's vulnerability?

We just had a CME glancing blow by and nip us followed by a not so big lil brother CME direct hit, maybe they are hiding the aspect that the system is allowing the sun to make trades at unfair discounts lol.

posted on Aug, 23 2013 @ 09:21 AM
reply to post by Tranceopticalinclined

That one crossed my mind too when I called yesterday to report my cable service being down only to find out that it was down in large portions of my state as well as a neighboring state.

In the meanwhile, it looks like "software glitches" have been taking the blame for the last few days now.

NYSE Euronext briefly halted trading yesterday (August 19th) in about 40 exchange-traded funds and notes when the securities were added to a program aimed at curbing sudden price swings. They were set off during implementation of the protocol known as limit up/limit down that pauses securities when bid-ask spreads become too wide, the exchange said.

posted on Aug, 23 2013 @ 12:28 PM
reply to post by ConstantConfusion3

i have not been able to log into i-tunes

posted on Aug, 23 2013 @ 12:37 PM
reply to post by jed001

"Memo To Apple: Fix iTunes Ahead Of iTunes Radio Launch"

Apple is also counting on iTunes Radio sending users back to the original iTunes Store to buy music, where they’ll listen to their purchases on the mobile and desktop versions of iTunes. Before that happens, Apple needs to fix the latter.

The latest version of iTunes is an utter abomination–at least that’s been the opinion of a very vocal horde of users since the program was redesigned in 2012 to include bigger album art and more pop-up menus.

posted on Aug, 23 2013 @ 01:37 PM
reply to post by sulaw

For now at least, this was a warning that we should be ready for another market crash, this isn't the first warning though. I am not surprised they are trying hide it.

posted on Aug, 23 2013 @ 01:38 PM

Originally posted by Senduko
No one has a clue what's happening. Man I would love myself a good financial collapse right now. Head to the hills and start milking goats lol!

Another financial collapse would stop the war machine.

posted on Aug, 23 2013 @ 02:29 PM
was a nervous few hours being stuck short in quite a few apple puts

posted on Aug, 23 2013 @ 02:38 PM
amazing that I only heard the word "hacked" once on CNBC....all the rest of the time they called it "software glitch" or other non-threatening tech words.....these market trading sites are constantly being bombarded with DDoS, bugs, and malware...but, as with the nuclear disaster in japan with TEPCO, no need to scare the populace by reporting it.

posted on Aug, 23 2013 @ 03:33 PM
reply to post by jimmyx

I think they would be reticent to divulge anything, lest they appear a "soft" target.

Plus.. it is an out-of-the-box move the oversight system supports.

"Lies" are even bought and sold now.... if it is exchanged, it is made into a business, whatever they call it.

Hmm... re-read the above and apologize if that seem too cryptic. But I often feel you all "get it", and don't need to be preached to.

posted on Aug, 23 2013 @ 03:40 PM
the large media would downplay the instance to reduce panic - it's interesting though that Google just went down a couple days ago too...

posted on Aug, 23 2013 @ 04:17 PM

Originally posted by wrabbit2000
"Hey! What does this Wipe command do??" .....said the new network tech to the he hit enter...

As perverted as this may sound, my fuzzy friend, there are those of us
out there ready to crash and go barter.
I for one would be grateful at this point for a heated garage and a dry place
to store my tool maker's equipment after the month's end. LIBOR Day / LOL.

I can sleep on the rollaway, and the dove's paper trained... please."

Also considering a light shaking of the gunwales on that canoe of an economy-- just
to make sure the tenderfoots can right it and drain it out for us after the correction.
But really, HOW many Hindenburg Omens? I call those guys the inverse function of
a Timewave Shift... the wider and more frequent the labor pains, oh baby.

posted on Sep, 4 2013 @ 12:15 PM
Just a little update to the thread. Released today we have this article from NBC:

Nasdaq Reports Another Problem With Its Data Feed
^Click the link to see the full article^

The Nasdaq had yet another problem Wednesday with the main data feed that was at the center of its unprecedented outage nearly two weeks ago.

According to the exchange, a system called the "Securities Information Processor," or SIP, experienced an outage between 11:35 a.m. and 11:41 a.m. The outage affected the exchange's ability to transmit quotes in stock symbols PC through SPZ.

I wonder how many more of these types of events will be happening in the future? Are these things happening because they are trying to prevent a financial collapse of the dollar? I expect this will not be the last time.

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