NYSE Told Major Outage in 2015 May Have Broken Securities Rules
- Exchange’s owner ICE says it got a Wells notice from SEC
- Software glitch caused a more than three hour shutdown
Traders stand on a nearly empty trading floor at the New York Stock Exchange after trading was halted due to a 'technical glitch' on July 8, 2015 in New York City.
Photographer: Spencer Platt/Getty ImagesThis article is for subscribers only.
Securities and Exchange Commission investigators believe the New York Stock Exchange violated the law during a 3 1/2-hour outage on July 8, 2015, which froze one of the world’s biggest financial markets.
SEC enforcement officials sent the NYSE a Wells notice, the market’s owner Intercontinental Exchange Inc. said in its annual report, indicating those staffers will recommend SEC commissioners approve an enforcement action against the company.