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Paralyzed Nasdaq Opted For Caution Over Speed In Restoring Trade

wochit business
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August 23, 2013 AT 5:21 AM
Thirty minutes into the crippling outage that hobbled the Nasdaq stock market on Thursday afternoon, stopping all trading in $5.9 trillion worth of U.S. equities, exchange officials had the problem fixed. Most of the 191 minutes that the exchange was dark was spent in sometimes frantic conversation with scores of banks, brokers, investment companies and rival exchanges that wanted the Nasdaq's assurance that a restoration of trading would be orderly and not lead to panic.