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Nasdaq probes technical problem impacting connection

The Nasdaq logo is exhibited at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021

March 18 (mod1s) - Nasdaq (NDAQ.O), opens new tab, which hosts some of the top U.S. tech firms on its exchange, said on Monday it was investigating a problem relating to connection and stock orders, marking its second technical failure in months. 

The business did not disclose information about the severity of the problem, but claimed it was connected to the matching engine - software tools that match buy and sell orders on an exchange. The issue happened about 4.55 a.m. ET, according to the exchange's website.

Thousands of equities are listed on the Nasdaq, including those of iPhone manufacturer Apple (AAPL.O), opens new tab, electric vehicle-maker Tesla (TSLA.O), opens new tab and artificial intelligence semiconductor powerhouse Nvidia (NVDA.O), opens new tab. 

Nasdaq did not immediately react to a request for comment outside usual business hours in the U.S., but an updated advisory on its website indicated it had found the main reason of the problem. 

The exchange operator had reported similar concerns in December, when stock orders were interrupted and over 50 customers at the exchange were affected.

Nasdaq said on Monday orders submitted via the "RASH FIX" order processing system were not being recognized at this time. 

FIX, or Financial Information Exchange, is a communication protocol that establishes an electronic message exchange for conveying securities transactions between two parties. 

New York Stock Exchange Arca Equities, which specializes in listings of exchange-traded products, said it has issued a self-help alert against Nasdaq.

Cboe (CBOE.Z), opens new tab also claimed it "has declared self-help against another market center, or is actively investigating an issue" without identifying the name of the center. 

A "self-help" is a notice sent by a trading exchange when another exchange is struggling with internal issues processing deals and orders are routed via additional venues.


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