Nasdaq, which hosts some of the largest tech giants in the United States on its exchange, on Monday, announced the resolution of an issue concerning connectivity and stock orders, following more than two hours of disruption, assuring that all systems were now functioning normally.
While the company didn’t elaborate on the severity of the problem, it marked its second technical malfunction in months, attributed to the matching engine – software systems responsible for matching buy and sell orders.
The incident commenced around 4:55 a.m. ET, as indicated on the exchange’s website. Nasdaq lists thousands of stocks, including those of prominent companies like Apple, Tesla, and Nvidia.
Technical hiccups on exchanges have the potential to disrupt markets, dent traders’ confidence, and draw regulatory scrutiny. Nasdaq’s announcement confirmed the resolution of the matching engine issue, with operations back to normal, although it didn’t immediately address further inquiries.
In December, the exchange operator encountered similar issues, impacting stock orders and affecting over 50 clients. Monday’s glitch affected orders sent via the “RASH FIX” order handling system, a protocol facilitating electronic message exchange for securities transactions.
Additionally, the problem prompted self-help declarations against Nasdaq from Cboe and New York Stock Exchange Arca Equities, which specializes in exchange-traded product listings.
