NYSE to Pay $9 Million Penalty Tied to 2023 Trading Glitch

Dow Jones03-06 23:10

By Connor Hart

The Securities and Exchange Commission said Friday that the New York Stock Exchange will pay a $9 million civil penalty to settle charges tied to a trading glitch in January 2023 that disrupted thousands of stocks.

According to the SEC, NYSE failed to run opening auctions for 2,824 exchange-listed securities at the start of trading on Jan. 24, 2023. The exchange previously said the problem stemmed from a manual error after staff inadvertently left a backup trading system running during overnight maintenance.

The malfunction caused NYSE's primary trading platform to begin continuous trading at the opening bell without conducting the auctions that normally establish opening prices.

The error triggered widespread market disruptions, including trading pauses in 84 securities under market volatility controls, sharp price swings in several stocks and more than 4,000 trades that were later canceled, the SEC said.

Regulators said the exchange violated rules requiring exchanges to maintain monitoring procedures for critical trading systems and also failed to comply with its own rule requiring an opening auction before continuous trading begins.

NYSE, which is owned by Intercontinental Exchange, agreed to the settlement without admitting or denying the SEC's findings. The exchange said it has since implemented new monitoring controls and system safeguards to prevent a recurrence.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

March 06, 2026 10:10 ET (15:10 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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The exchange previously said the problem stemmed from a manual error after staff inadvertently left a backup trading system running during overnight maintenance. \n\n\n  The malfunction caused NYSE's primary trading platform to begin continuous trading at the opening bell without conducting the auctions that normally establish opening prices. \n\n\n  The error triggered widespread market disruptions, including trading pauses in 84 securities under market volatility controls, sharp price swings in several stocks and more than 4,000 trades that were later canceled, the SEC said. \n\n\n  Regulators said the exchange violated rules requiring exchanges to maintain monitoring procedures for critical trading systems and also failed to comply with its own rule requiring an opening auction before continuous trading begins. \n\n\n  NYSE, which is owned by Intercontinental Exchange, agreed to the settlement without admitting or denying the SEC's findings. The exchange said it has since implemented new monitoring controls and system safeguards to prevent a recurrence. \n\n\n \n\n\n  Write to Connor Hart at connor.hart@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 06, 2026 10:10 ET (15:10 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2617639617","isCrawlerRequest":true}