Nasdaq OMX Halts Trading in Some Markets

Date : 10/29/2013 @ 1:40PM
Source : Dow Jones News
Stock : Nasdaq, Inc. (MM) (NDAQ)
Quote : 72.74  0.72 (1.00%) @ 8:00PM

Nasdaq OMX Halts Trading in Some Markets

Nasdaq, Inc. (NASDAQ:NDAQ)
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Nasdaq OMX Group Inc. (NDAQ) experienced problems broadcasting the values of key stock-market indexes including the Nasdaq 100 and Nasdaq Composite Indexes, prompting the exchange operator to halt trading in some markets.

For nearly an hour on Tuesday, the reported values on the two widely watched market measures were frozen. The indexes resumed moving at about 12:45 p.m. EDT, according to FactSet data.

Nasdaq OMX's Philadelphia-based PHLX options exchange halted trading in options tied to the Nasdaq 100 at 12:06 p.m. EDT, according to a trader alert. The options exchange also halted trading in options tied to other Nasdaq indexes, including the PHLX Oil Service Sector and PHLX Semiconductor indexes.

Representatives for Nasdaq OMX had no immediate comment on Tuesday's index issue.

"It appears to be a problem with disseminating index prices," said Steve Sosnick, a senior trader with Interactive Brokers" Timber Hill trading unit.

The problems extend a recent string of failures in the data feeds that brokers and traders depend upon to do business in financial markets. An Aug. 22 breakdown in the baseline data feed for Nasdaq Stock Market-listed securities froze trading in those stocks for three hours, and a similar, much shorter outage followed a week later. The data feed supplying prices for U.S. options markets, run by a unit of NYSE Euronext (NYX), failed in mid-September, forcing the entire market to briefly halt.

-Jacob Bunge contributed to this article.

Write to Kaitlyn Kiernan at Kaitlyn.Kiernan@wsj.com

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