When Nasdaq re-opens, get ready for craziness

The CME said that it was seeing ‘no impact’ from Nasdaq’s trading halt. “They want everybody else to shut down Tape C trading so they can restart over at the Nasdaq and until they do they can’t restart”, said CNBC contributor Pete Najarian. Tape C refers to any securities traded over the Nasdaq. “If I was back in the days of 10 years ago managing 300 traders I’d put the directive out to every one of them ‘we don’t put any orders in at the open’ … no one trades for 60 minutes,” said Joe Terranova, chief market strategist for Virtus Investment Partners and a CNBC contributor.
Source: http://www.cnbc.com/id/100968086

Full Nasdaq trading expected to resume soon

The exchange said full trading would resume at 3:25. “When everyone comes back online at the same time that’s when even more beststock dangerous things can happen in the marketplace,” said Sal Arnuk, the co-founder of Themis Trading. The Wall Street Journal pointed to Apple as a good example of the chaos that could ensue. The tech giant’s stock plunged shortly before the Nasdaq glitch.
Source: http://finance.yahoo.com/news/nasdaq-trading-halted-due-technical-162926716.html

They’re updated with what the Nasdaq is intending to do,” he said. “You have to make sure your customers are not caught with their pants down once they start trading again.” Nasdaq: What we know so far CNBC’s Dominic Chu provides a timeline of events with all the details about Nasdaq’s halt of trading. Nasdaq intends to reopen limited trading at 2:45 PM. The delay was yet another black eye for a market that has suffered through flash crashes, embarrassing glitches in initial public offerings and a general perception of being an uneven playground.
Source: http://www.cnbc.com/id/100981810

Central, more than three hours after the problem began. All traffic through Nasdaq stopped at 11:14 a.m. Central, the exchange said on its website, citing a problem distributing stock price quotes. A source familiar with the matter described the problem as a data feed issue. Rival exchanges halted trading of Nasdaq-listed shares shortly afterward at the request of Nasdaq, the second-biggest U.S.
Source: http://www.chicagotribune.com/business/breaking/chi-nasdaq-trading-halt-20130822,0,5384409.story


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