NYSE explains trading halt

A summary of the latest exchange and industry news.​


The New York Stock Exchange stated that the trading halt it experienced on Wednesday, July 8, was a result of a botched technology upgrade, as opposed to a hacking attack, which some had feared, Bloomberg reported. 

Flow Traders, the Dutch HFT firm, listed over 16 million shares, approximately 35% of the firm, on the Amsterdam stock exchange starting Thursday. The shares were listed at EUR 32 ($35.28), valuing the company at around EUR 1.5 billion, Reuters reported.

China’s Ministry of Public Security plans to launch a campaign to analyze the “abnormal volatility” of the stock market together with the China Securities Regulatory Commission (CSRC). The Ministry stated that the police should collaborate with regulators in dealing with cases involving insider trading and leaking inside information.

Monetary Authority of Singapore (MAS) will move towards mandating clearing of certain OTC derivatives, now that it has received recognition from the US and the EU, Risk.net reported. According to MAS, “because market participants in Singapore are from both the US and Europe, the local authorities needed to ensure there was sufficient clearing infrastructure in place to meet both mandates before it imposed its own.”

FCA dropped the proposed fine of GBP 1m ($1.5m) and an industry ban against the former JP Morgan trader Bruno Iksil, who is also known as the “London Whale.” According to Bloomberg, FCA did not provide a reason for dropping its investigation.

 

About the Author

Bernardo Mariano brings to ERDesk his experience structuring private deals for the acquisition of mutual exchanges. Prior to joining ERDesk Bernardo worked as a Director for Instinet and later, CEO of Reuters' Bondex.