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 PC World newsletter!

Error: Please check your email address.

Tags New York Stock Exchangefinanceindustry verticals

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

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

Cool Tech

Crucial Ballistix Elite 32GB Kit (4 x 8GB) DDR4-3000 UDIMM

Learn more >

Gadgets & Things

Lexar® Professional 1000x microSDHC™/microSDXC™ UHS-II cards

Learn more >

Family Friendly

Lexar® JumpDrive® S57 USB 3.0 flash drive 

Learn more >

Stocking Stuffer

Plox Star Wars Death Star Levitating Bluetooth Speaker

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest News Articles

Resources

GGG Evaluation Team

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Steph Mundell

LIFEBOOK UH574

The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.

Andrew Mitsi

STYLISTIC Q702

The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.

Simon Harriott

STYLISTIC Q702

My first impression after unboxing the Q702 is that it is a nice looking unit. Styling is somewhat minimalist but very effective. The tablet part, once detached, has a nice weight, and no buttons or switches are located in awkward or intrusive positions.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?