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Why NYSE Stock Quotes Disappeared For 5 Minutes On Wednesday

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Why NYSE Stock Quotes Disappeared For 5 Minutes On Wednesday

Some traders took to Twitter on Wednesday morning after experiencing several minutes in which quotes for some NYSE-listed stocks disappeared completely.

What Happened: According to the NYSE, there were no disruptions on the exchange, and the issues likely stemmed from the Consolidated Tape Association.

Related Link: Payment For Order Flow Explained: Why Zero-Commission Trades Aren't Really Free

“There was no problem with the exchange today, but the Consolidated Tape performed a restart,” Farrell Kramer, head of NYSE Communications, told Benzinga.

On its website, the CTA posted a notice addressing the issue.

“Due to a software issue, CTS and CQS were restarted at the primary data center to restore multicast output line processing as of 11:32:21. CTS and CQS are now processing as normal,” the CTA reported.

The processing issue was first logged at 11:34 a.m. EST on Wednesday morning and then marked resolved 5 minutes later at 10:39 a.m. EST.

Why It’s Important: The CTA oversees the worldwide dissemination of real-time trade and quote data generated by Intercontinental Exchange Inc (NYSE: ICE) exchanges, including the NYSE, Bats, NYSE Arca, and NYSE American.

Most retail stock traders get real-time stock quotes from the CTA for free via their online brokerage.

Benzinga’s Take: It appears Wednesday morning’s issue was a relatively minor technical glitch by the CTA, but stock trading was not disrupted on the NYSE at all. While traders may have been frustrated by even 5 minutes in the dark without quotes, a certain amount of technical difficulties comes with the territory when virtually every aspect of global financial markets is now online.

 

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