Stock-Options Market Affected By Data Feed Issue

Stock-Options Market Affected By Data Feed Issue

A data feed issue resulted to a halt in trading at the stock-options market for around twenty minutes on Wall Street recently.

The latest issue affected the quote processing data on Wall Street. This issue resulted to a halt in the trading of US stock-options on Monday afternoon. The Options Price Reporting Authority or the OPRA system was affected by the issue. The system distributes last-sale reports, price quotes, and other trading data to exchanges in the country that trade options.

The technology and operations of OPRA are handled by a NYSE Euronext unit, the SIAC. The issue cropped up at around 1:40PM Eastern time. After around ten minutes, the issue was resolved and the system was back online at around 2:00 PM

The issue affected all stock-options market trading in all exchanges. Gail Osten, director of communications of the Chicago Board Options Exchange indicated that the CBOE and options exchange C2 were also affected by the issue. Osten said that the CBOE was offline from around 1:40PM to around 1:58PM.

Nine other exchanges that utilized the OPRA were also affected by the glitch on the stock-options market. These exchanges include the BATS, Nadsdaq, and the ARCA, the electronic exchange of the NYSE.

According to Osten, the latest issue was a malfunction in the OPRA and was not a problem with the exchange.

The reliability of the exchanges of the US has been questioned following a number of issues that emerged in recent years. A three-hour outage affected the Nasdaq last month. The outage, which was called “Flash Freeze,” was caused by a problem in the data feed. This problem followed the botched IPO of Facebook in 2012 and the May 2010 “Flash Crash.”

The stock-options market issue was the latest glitch to affect the systems on Wall Street.

Posted by James Fried on Tuesday September 17 2013, 6:44 AM EST. Ref: USA Today. Link. All trademarks acknowledged. Filed under Featured News, Finance. Comments and Trackbacks closed. Follow responses: RSS 2.0