UpInArms
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Thu Jan-19-06 03:06 PM
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| 97. Nasdaq glitch produces bad quotes and delayed trades |
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http://www.marketwatch.com/news/story.asp?guid=%7B456F860B%2D0839%2D4B03%2DA4E8%2D8F7961558EC8%7D&symbol=&siteid=mktwNEW YORK (MarketWatch) -- A computer glitch at the Nasdaq Stock Market resulted in delayed trades and faulty closing quotes in more than half of the New York Stock Exchange's listed stocks, the exchanges said Thursday.
The Nasdaq confirmed that a computer glitch occurred about 5:50 p.m. Eastern time Wednesday, when trades made earlier in the day were reposted. As many as 1,400 stocks were given improper closing prices.
The erroneous quotes were then sent to such customers as BigCharts.com, Charles Schwab Corp. (SCHW), E-Trade Financial Corp. (ET) and Yahoo Inc. (YHOO), according to media reports.
The Associated Press, which first reported the glitch after it prepared closing prices for its wire, said that its market data-services unit caught the errors, and that the stock tables it sent to newspapers were correct.
The closing prices created confusion among customers of the NYSE Thursday, but the current market prices are correct, a spokesman said.
...more...A spokesman for the Nasdaq did not immediately return calls seeking comment.
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