NYSE Says 90% Of Stocks Had No Closing Price, Says This Is "Absolutely A Big Deal"
March 20, 2017 6:45 pm
Details are thin but 90% of NYSE stocks were unable to have a closing auction today. In a statement to Street Insider a NYSE insider who wishes to remain anonymous tells us that NYSE ARCA was the error point and was unable to give us further details. The source tells us there was no closing auction for the direct feeds. The exchange, which is operated by the Intercontinental Exchange (NYSE: ICE) said there would be "no closing auction tonight".
The source tells use verbatim that this inability to issue a closing auction is "absolutely a big deal" but stopped short of admitting that there was an effort to sabotage the tape.
The official statement from NYSE on the website has been: "Corrected Official Closing Prices will be represented as .9 and .M on the Consolidated Tape. NYSE Arca will not resume trading for the remainder of the trading day. Trading will resume at 4:00 am ET on March 21, 2017. "
We will update Street Insider clients accordingly but there appears to be some lack of communication between NYSE and Wall Street traders. We asked point blank if this was an issue with a system update and we were told "no".