Nasdaq to Extend Trading After Second Straight Day of Outages

(Updated from 3:09 p.m. ET)

Nasdaq will extend trading for one hour today, to 5 p.m. EDT, after a network problem forced the electronic stock market to temporarily suspend trading through its SelectNet and Small Order Execution System, or SOES.

Today marked the second day in a row and the third time this month that the Nasdaq has had problems with its execution system.

A Nasdaq representative couldn't be reached for immediate comment.

Yesterday afternoon, Microsoft (MSFT Quote), which was halted around 11:30 a.m. EDT, reopened for trading, and the Nasdaq began to experience intermittent problems with its quotation system. When efforts to restore the quotation system were unsuccessful, SelectNet and SOES were suspended for around 15 minutes.