Nasdaq resolves system errors affecting stock orders. According to a notification on its website, the exchange operator Nasdaq (NDAQ.O) rectified a system issue on Wednesday that affected stock orders and more than fifty clients. As stated in the notice, the issue was resolved by rolling back the concerned application to an earlier version.
The notification stated that the event started around 14:31 Eastern Time (1931 GMT) on December 13 and that the “FIX/RASH order” processing system of Nasdaq encountered difficulty due to a duplicate internal order ID.
A communication protocol known as FIX, which stands for Financial Information Exchange, is a protocol that establishes an electronic message exchange to convey securities transactions between two parties.
As part of the investigation into the matter, Nasdaq decided to turn off the FIX/RASH order handling system, prevent any new orders from being placed, cancel any already in progress, and send them back to the clients.
“Nasdaq is confident that the corrective action fully addresses the issue and is ready for tomorrow’s trading.” Some clients experienced delays and inconsistencies in receiving specific execution data, according to a statement that the exchange operator distributed via email earlier on Wednesday.
“Fix/RASH was shut down for the remainder of the day,” the release read. A statement from the company stated that the closing cross has been completed and that all other markets are working regularly.
In response to a request for comment about the number of trades impacted by the system problem, it did not respond.
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