Nyse fined $9 million by SEC over trading glitch

ChainWatcher · 2026-03-09T12:33:13+00:00

The SEC ordered Nyse to pay a $9 million penalty after a simultaneous run of its trading systems on January 24, 2023, led to incorrect auction processing for over 2,800 securities, causing market disruptions and trading pauses.

ChainWatcher

2026-03-09 12:33:13

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According to the SEC’s order, on 24 January 2023 Nyse inadvertently ran its primary and backup trading systems simultaneously which led the primary trading system to incorrectly treat the opening auctions for more than 2,800 securities as having already occurred.

The order finds that Nyse did not have written policies and procedures to monitor systems that support its opening auctions to determine if opening auctions had occurred, and Nyse was unaware of the full scope of the incident for nearly 90 minutes after the opening of trading.

The SEC says that Nyse’s failure to conduct opening auctions caused market-wide impacts including price-triggered restrictions on trading, market-wide trading pauses in 84 of the securities, and ultimately thousands of busted trades.

Without admitting or denying the findings, Nyse agreed to be subject to a cease-and-desist order and to pay a civil penalty of $9 million.

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