Nasdaq has resolved the root cause of a technical issue which halted cash equities, Extended Exchange Trade Products (ETP), and equity derivatives trades on Nasdaq Nordic from 5pm CET on Tuesday.
Nasdaq confirmed that the issue had been identified and fixed and that all Nordic and Baltic markets opened as normal on Wednesday July 30, when approached by The TRADE.
Specifically, the outage affected Nasdaq Stockholm, Nasdaq Helsinki, and Nasdaq Iceland.
The cause has been confirmed to be related to the INET (the Nasdaq trading platform for Nordic and Baltic equities trading and publication of OTC trade reports), which stopped disseminating equity order data via ITCH and GCF feeds.
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At the time of the technical disturbance, NLS feed for trade information and trade data via GCF were unaffected and continued to work as expected.
The outage was communicated to members on OUCH and FIX sessions, Nasdaq has confirmed.
In an announcement during the incident, Nasdaq told the market that “all trades on the equity derivatives market in scope for cancellation cannot be cancelled today due to the cut off to run After Business for Nasdaq Clearing. Affected members will be contacted regarding its affected trades and its cancellation.”
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The exchange further confirmed at 9pm on Tuesday that the closing prices for the affected equity and Exchange Trade Product markets would be the last traded price prior to the incident – ETP markets had been halted since 6.45pm CET.
In an update, Nasdaq assured its users that “all equity derivatives trades in scope for the cancellation have been cancelled, however, these trades can still be seen in the system. Nasdaq is working on removing the trades and impacted members will be contacted regarding its affected trades and its cancellation.”