NYSE Says Sell Short Restriction Was Triggered Erroneously
Reuters2023-01-25
The New York Stock Exchange said on Wednesday that a sell short restriction was "erroneously" triggered in a set of ticker symbols for companies listed on the exchange on Tuesday that led to a glitch at market open.
The glitch prevented the opening auctions for a slew of stocks, prompting widespread trading halts, confusion over whether orders were being filled at the correct prices and trades in more than 250 securities being busted.
The SSR is a process aimed at limiting short selling. The goal is to prevent short sellers from pushing the shares of a company lower.
The SSR will be deactivated prior to the NYSE opening on Wednesday, the company said.
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