NYSE’s Farley Pulled Plug When He Realized Trade Data Was Off
(Bloomberg) -- New York Stock Exchange President Tom Farley talks about his decision to halt trading on the exchange today due to computer problems. He speaks with Stephanie Ruhle on Bloomberg Television's “Bloomberg Markets.” (Source: Bloomberg)
A morning that started with a computer glitch at the New York Stock Exchange ended with a trading halt when President Tom Farley realized investors couldn’t rely on the market to provide accurate data.
“We were getting intermittent messages of customers not seeing the exact behavior that they would otherwise expect with respect to messages,” Farley said in an interview on Bloomberg Television. “I didn’t feel like we had the level of trust in our systems that is required and I made the decision, working with regulatory team and counsel’s office, let’s suspend trading.”