Nasdaq Inc witnessed a system error on Wednesday that affected thousands of stock orders and affected more than 50 customers, leading to the cancellation of some orders.
According to reports, Nasdaq’s electronic communication channel was affected. This system processes the financial information exchange or “FIX” messages.
The exchange operator said it resolved the system issue after rolling back the app in question to a previous version, according to a notice on its website.
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The incident began around 14:31 ET (1931 GMT) on December 13 after Nasdaq’s “FIX/RASH” processing system experienced a problem caused by a duplicate internal order identifier, the notice said.
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FIX or Financial Information Exchange is a messaging protocol that defines an electronic message exchange to communicate securities transactions between two parties, Reuters reported.
According to the notice, while investigating the matter, Nasdaq has decided to disable the FIX/RASH order processing system, block all new orders and cancel any open orders back to clients.
“Nasdaq is confident that the corrective action fully addresses the issue and is ready for tomorrow’s trading,” it said.
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Some customers have seen errors and delays in the delivery of execution reports, the exchange operator said in an emailed statement earlier on Wednesday, Reuters reported.
“FIX/RASH has been closed for the rest of the day. The closing cross has been completed and all other markets are operating normally,” the exchange added.
(With inputs from Agencies)
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Published: 14 Dec 2023, 11:30 IST