OTC Markets Plans to Reopen After Malfunction Forced Trade Halt

Photographer: Andrew Harrer/Bloomberg

The halt affects over-the-counter equities such as Fannie Mae. Close

The halt affects over-the-counter equities such as Fannie Mae.

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Photographer: Andrew Harrer/Bloomberg

The halt affects over-the-counter equities such as Fannie Mae.

OTC Markets Group Inc. plans to reopen its market at 3 p.m. after a technology malfunction prompted regulators to stop trading of over-the-counter stocks for about three-and-a-half hours.

The OTC system was available after a “network provider issue” was resolved, Chief Executive Officer Cromwell Coulson said in an e-mail. The market will reopen pending a notice from the Financial Industry Regulatory Authority, he said.

The halt affected over-the-counter equities such as Fannie Mae and Freddie Mac, not companies listed by NYSE Euronext or Nasdaq OMX Group Inc. The pause began at 11:25 a.m. New York time today, Finra said on its website.

To contact the editor responsible for this story: Michael P. Regan at mregan12@bloomberg.net

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