(Reuters) -Stock exchange operator Members Exchange (MEMX), backed by some of Wall Street's biggest firms, said it had resolved a technical issue that delayed the start of its pre-market trading session for nearly two hours earlier. of Tuesday's opening.
MEMX Equities delayed the opening of its pre-market session until 08:45 am ET as the stock exchange encountered a problem. He didn't clarify what the problem was.
The problem was not related to the change to T+1, according to a source familiar with the matter.
Wall Street moves toward a faster trade deal on Tuesday as regulators seek to reduce risk in the world's largest financial market.
MEMX said it would release a post-mortem on the delayed start of its pre-market session.
The exchange operator typically starts its pre-market session at 7:00 a.m. ET, according to its website.
The New York Stock Exchange (NYSE), Cboe Global Markets (NYSE and Nasdaq were among exchange operators that disabled routing to Members Exchange during premarket trading before resuming it after a brief pause.
The issue also led to self-help statements from the NYSE and Cboe against Members Exchange. Both were later revoked.
A “self-help” is a notification issued by a trading exchange when another exchange is dealing with internal problems in processing trades and orders are routed through alternative locations.
Nasdaq, NYSE and CBOE did not immediately respond to Reuters requests for comment.
MEMX was founded in 2019 by a consortium of Wall Street firms that includes investment bank Morgan Stanley, fund manager Fidelity and brokerage firm Morgan Stanley. Carlos Schwab (NYSE:), among others.
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