UPDATE 2-NYSE says resumed Monday's trading without glitch

Mon Jul 6, 2009 12:29pm EDT
 
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(Updates with NYSE comments on Monday's trading)

NEW YORK, July 6 (Reuters) - New York Stock Exchange trading resumed without hitches on Monday after the Big Board worked through the long weekend to resolve connectivity issues that had affected orders late last week, a spokesman said.

"Everything is fine," said Eric Ryan, an NYSE spokesman.

In Thursday's session the NYSE extended trading past its regular closing time of 4 p.m. (2000 GMT) to 4:15 p.m. because of connectivity glitches.

The extended session was announced within the last half hour of the market's regular closing time. Thursday marked the year's lightest volume session, a day before the U.S. financial markets closed for the U.S. Independence Day holiday.

Floor brokers were hit by a systems issue that affected orders originating from the trading floor, according to the NYSE.

Brokers on the trading floor, run by NYSE Euronext (NYX.N)(NYX.PA) , had trouble routing orders for more than an hour early in the session on Thursday. A spokesman said it was an isolated issue that did not impact the broader electronic trading system and that regular order processing resumed by 10:50 a.m. (1450 GMT)

During the regular session, the Big Board briefly halted trading in several stocks, including Regis Corp (RGS.N) and Avon Products (AVP.N) .

The problem followed two others at the NYSE -- a software glitch June 12 and an order-matching problem June 26. The glitches come as the NYSE scrambles to retain market share and upgrade systems in order to keep pace with smaller, faster rivals such as BATS Exchange and Direct Edge.

The NYSE said Thursday's session was extended to executive customer orders affected by "system irregularities."

Shares of NYSE Euronext were down 2 percent at $25.56 in midday trading. (Reporting by Ellis Mnyandu; Editing by Padraic Cassidy)

 

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