Nasdaq says it expects its systems to function normally after a technical glitch hit the exchange on Wednesday afternoon.
The glitch caused confusion among some traders who sought to buy or sell shares in the 4 p.m. closing auctions that set official end-of-day prices for Nasdaq-listed stocks. Some firms found that orders they entered in Nasdaq’s closing auctions appeared to get stuck, leaving it unclear how the orders were executed, people familiar with the matter said.
Nasdaq said more than 50 firms were affected. In a notice posted on its website late Wednesday evening, the exchange said trades in the closing auctions were processed correctly. But some firms may have failed to receive electronic reports confirming their trades, or gotten reports with faulty data, Nasdaq said.
