Headaches Set In for Traders With NYSE Glitch Near Market Close
- NYSE Arca shifts to backup method for calculating final prices
- The ETF listing exchange closed early for after-hours trading
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NYSE Group sowed confusion among traders after a technical error hobbled one of its exchanges on Monday, wreaking havoc on hundreds of exchange-traded funds.
NYSE Arca, the largest U.S. listing venue for ETFs, left traders scrambling at the end of the trading day after a system upgrade went awry. An upgraded version of its software that went live on Monday derailed closing auctions for certain securities, a key moment at the end of the trading day.