NASDAQ OMX (NDAQ ) shares began to recover from yesterday's losses, rising 0.64% to $30.66 Friday after the company suffered significant technical issues regarding equity and options trading.
Trading shut down at the Nasdaq stock exchange, which is run by NASDAQ OMX, for about three hours on Thursday. All trading halted at 12:14 pm, preventing some of the most active tech stocks from trading. NASDAQ OMX blames the shutdown on problems with their Securities Information Processor, the system that collects and disseminates quotes. All stock trading resumed by 3:25 pm.
"Responding to the SIP issue, in order to protect the integrity of the markets, NASDAQ OMX issued a regulatory halt for all trading in NASDAQ-listed securities," NASDAQ OMX said in a statement. "In the first 30 minutes, technical issues with the SIP were resolved. For the remaining period of time, NASDAQ OMX, other exchanges, regulators and market participants coordinated with each other to ensure an orderly re-opening of trading in NASDAQ-listed securities. Trading resumed and the balance of the trading day finished in normal course."
However, the glitch, coupled with Facebook's famously bungled IPO on the Nasdaq begins to put put into question whether that Twitter will choose the Nasdaq for its own upcoming IPO.Twitter reportedly wants a "low profile" IPO, something that may be difficult to achieve with an exchange recovering from two high-profile technological errors in eighteen months.
Closing prices: MSFT jumped 7.3% to $34.75, P dropped 12.9% to $18.91 and NDAQ was 1.2% higher at $30.83. --Written by Laura Berman in New York Follow @LauraBermanTST
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