As a result of this systems issue, three erroneous trades occurred on the BATS BYX Exchange in Apple Inc. (APPL), one of which caused a volatility halt in that stock. The erroneous trades were broken under BATS' clearly erroneous trade policy.
The systems issue was rectified at 12:50 p.m. ET at which time trading in the securities in symbol range A through BF resumed. BATS Global Markets has announced it has withdrawn its planned initial public offering (IPO), which was scheduled to close on March 28, 2012.
"Although our affected market has reopened, in the wake of today's technical issues, which affected the trading of certain stocks, including that of BATS, we believe withdrawing the IPO is the appropriate action to take for our Company and our shareholders," said Joe Ratterman, chairman, president and CEO of BATS Global Markets.
Der Maybach unter den MTFs vergeigt IPO...
Apple Resumes Trading After Circuit Breaker
BATS: Three Erroneous Trades in Apple
The systems issue was rectified at 12:50 p.m. ET at which time trading in the securities in symbol range A through BF resumed. BATS Global Markets has announced it has withdrawn its planned initial public offering (IPO), which was scheduled to close on March 28, 2012.
"Although our affected market has reopened, in the wake of today's technical issues, which affected the trading of certain stocks, including that of BATS, we believe withdrawing the IPO is the appropriate action to take for our Company and our shareholders," said Joe Ratterman, chairman, president and CEO of BATS Global Markets.
Quelle: Automated Trader