{"id":20841,"date":"2024-06-08T13:35:23","date_gmt":"2024-06-08T17:35:23","guid":{"rendered":"http:\/\/leadingcryptonews.com\/experts-think-blockchain-could-solve-nyse-trading-glitches\/"},"modified":"2024-06-08T13:35:23","modified_gmt":"2024-06-08T17:35:23","slug":"experts-think-blockchain-could-solve-nyse-trading-glitches","status":"publish","type":"post","link":"https:\/\/leadingcryptonews.com\/experts-think-blockchain-could-solve-nyse-trading-glitches\/","title":{"rendered":"Experts Think Blockchain Could Solve NYSE Trading Glitches"},"content":{"rendered":"


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During an early Monday software update, a glitch caused the New York Stock Exchange (NYSE) to halt trading on about 40 stocks incorrectly. Odd trades displayed a 99% drop in companies, including Warren Buffett\u2019s Berkshire Hathaway Inc.<\/strong><\/p>\n

However, this issue was resolved in approximately 45 minutes. The Consolidated Tape Association, operating under an NYSE subsidiary, switched to a backup data center with a different software version to fix it.<\/p>\n

How Decentralization Can Prevent Trading Halts?<\/h2>\n

Forced pauses began just before 09:45 in New York as CTA implemented a software update. This software controls the opening prices displayed on the Securities Information Processor. This feed consolidates bids and asks for quotes from various exchanges.<\/p>\n

Around 09:50, traders exchanged about a dozen Berkshire Class A (BRK.A) shares for $185.10. The stock had closed on Friday at $627,400. Following the incident, the NYSE announced it would cancel any trade between 09:50 and 09:51 at or below $603,718.30.<\/p>\n

Read more: What Is a Blockchain Oracle? An Introductory Guide<\/strong><\/p>\n