MARKET SNAPSHOT: Nasdaq ISE Halted Trade Following Failed Reopenings

By Ryan Vlastelica Features Dow Jones Newswires

About 8% of daily market volume occurs on the Nasdaq ISE

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Nasdaq ISE on Monday said a decision had been made to keep its market halted for the remainder of Monday, following a technical issue that had stymied the exchange throughout the day.

According to an exchange spokesman, "our plan is to open with all features and functionality operational tomorrow," Oct. 3. The exchange will be issuing a "detailed postmortem" on the issue later on Monday.

About 8% of total market volume is traded on the Nasdaq ISE, while over 40% of the overall market's volume is on the Nasdaq, according to data provided by the company.

Early in the session, the exchange declared "self help" on the market, citing a technical issue (http://www.marketwatch.com/story/nasdaq-ise-declares-self-help-trading-halted-but-will-resume-at-noon-2017-10-02) that the postmortem is expected to detail.

Nasdaq ISE attempted to reopen the exchange throughout Monday's session, but was unsuccessful. One anticipated un-halted was due to occur at noon, but this was delayed by 15 minutes. At that point, the exchange said it had reopened all symbols for trading, though ones in the A range--meaning ticker symbols beginning with the letter A--wern't trading on its order book. At 12:46:16 Eastern, Nasdaq ISE said it would halt all products in the so-called A range only; about 10 minutes later, the halt was expanded to all underlying symbols. Before the decision to halt the market for the remainder of the day, Nasdaq ISE said it would reopen all products "in a controlled manner," excluding ones in the letter range A.

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The spokesman confirmed that only the Nasdaq ISE was affected, with its other exchanges functioning normally. It didn't see any unusual price activity on specific securities as a result of the issue. The Nasdaq ISE is an options exchange.

Shares of Nasdaq Inc. (NDAQ) gained 0.3% on Monday; they are up 15.9% thus far this year. The S&P 500 rose 0.4% on Monday and is up 13% so far this year.

(END) Dow Jones Newswires

October 02, 2017 16:04 ET (20:04 GMT)