A technical error at the New York Stock Exchange resulted in numerous erroneous trading volatility halts, including for Chipotle Mexican Grill Inc. and Abbott Laboratories, and odd trades in at least two stocks early in the cash session Monday.
The forced pauses, which began shortly before 9:45 a.m. in New York, were resolved not long after 11 a.m. and the stocks resumed normal trading, according to statements from NYSE.
The firm said a technical issue with the "industry-wide" price bands published by the Consolidated Tape Association Securities Information Processor led to the halts.
In addition to the volatility halts, trades in Class A shares of Berkshire Hathaway Inc. appeared to go off at mistaken prices. About a dozen trades showed shares changed hands at $185.10 around 9:50 a.m., a discount of 99.97% to Friday's closing price of $627,400.
NuScale Power Corp. had a similar glitch, with trades that printed at about 99% below the prior price.
"It's very confusing that it's happening in just a few shares," said Jonathan Corpina, senior managing partner at Meridian Equity Partners, who typically works on the floor of the NYSE. "I would assume that those bad trades will be broken."
A representative for NYSE declined to comment on the matter beyond the exchange's market status update page. Intercontinental Exchange Inc. is the owner of the New York Stock Exchange.
The limit up-limit down trading bands typically govern when stocks are paused for volatility. The SIP is a single data feed where regulatory bodies process and consolidate bid and ask quotes and trades from all U.S. exchanges.
Earlier Glitch
The sudden disruptions Monday come just days after a glitch left the S&P 500 Index without live pricing for an hour, and as the market adapts to quicker settlement times for U.S. stock trades.
