SEC to discuss Nasdaq trading outage

Trading

The U.S. Securities and Exchange Commission will meet with heads of the major exchanges on September 12th to discuss last week's Nasdaq trading outage, the regulator said on Tuesday.

Reuters reports that the meeting with SEC Chairwoman Mary Jo White would address 'the market dissemination system involved in last week's halt, as well as other critical market systems and infrastructure issues', the SEC said.

Nasdaq halted trading in the thousands of stocks listed on its platforms last Thursday, including such familiar names such as Apple, Facebook, Google and Microsoft.

It had done so after learning that a system that consolidates stock prices coming in from different trading platforms, known as the Securities Information Processor, was not disseminating price quotations.

The SEC has asked Nasdaq and NYSE Euronext to come up with a timeline of the three-hour debacle, but the rivals have been unable to agree on the details, Reuters reported on Monday. 

To access the complete Reuters article hit the link below

U.S SEC to meet exchange heads September 12 over Nasdaq outage

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