Nasdaq Error Shuts Options Market For Almost Entire Day

The total shares traded for the NASDAQ was over 2.24 billion. Declining stocks led advancers by 3.46 to 1 ratio. There were 573 advancers and 1981 decliners for the day. On the NASDAQ Stock Exchange 28 stocks reached a 52 week high and 38 those reaching lows totaled.

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rose .1 percent to $37.56 with 19,590,900 shares traded. Riverbed Technology Inc. rose 16.5 percent to $17.61 with 15,136,700 shares traded. Santarus Inc.

This brought the total nominal value of all their listed Sukuk to 12.58 billion dollars (AED 46.2 billion), the third highest amount in the world, underlining the growing success of the ‘Dubai, the Capital of the Islamic Economy’ initiative. The bell-ringing ceremony took place in the presence of Essa Kazim, Chairman of Dubai Financial Market (DFM) and Secretary General of the Higher Committee for Development of the Islamic Economy sector; Abdul Wahed Al Fahim, Chairman of NASDAQ Dubai; and Hamed Ali, Chief Executive of NASDAQ Dubai. His Highness Sheikh Omar bin Saqr Al Qasimi said, “The highly successful Sukuk issued by the Emirate of Ras Al Khaimah via RAK Capital provides Shari’a compliant financing that will support the continuing sustainable economic development and infrastructure expansion in the Emirate of Ras Al Khaimah. Our sole listing on NASDAQ Dubai, as an exchange in the UAE that operates to international standards, provides us with a first-class regulatory environment that is well respected regionally and internationally.” Essa Kazim, Chairman of Dubai Financial Market (DFM), and Secretary General of the Higher Committee for Development of the Islamic Economy sector said, “Dubai’s exchanges are playing a rapidly expanding role in supporting the Islamic funding needs of organizations across the UAE and beyond, including though a growing number of listings from various emirates from public as well as private sector businesses. This expanding activity demonstrates the clear progress that is underway towards positioning Dubai top ten best stock investment companies ph as the global Capital of the Islamic Economy, in line with the initiative of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minster and Ruler of Dubai, under the direction of His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council.” The total nominal value of Sukuk that have listed on NASDAQ Dubai and Dubai Financial Market (DFM) in 2013 so far has now reached 6.15 billion dollars (AED 22.6 billion).

equity market, options trading is spread across multiple exchanges, all of them connected by data feeds that ensure buyers and sellers get the best available price. The fragmentation followed a decade and a half of reform on Wall Street aimed at spurring competition among securities exchanges. Some investors have said the system breed so much complexity that avoiding breakdowns is impossible. Trevor Mottl, Susquehanna Financial Group LLLPs New York-based head of derivatives strategy, said having multiple venues gives traders alternatives when one is unavailable. Id argue that the increased number of exchanges where transactions can occur decreases the impact of issues like this, Mottl wrote in an e-mail. I expect that the impact would have been far greater 10 or more years ago. Securities and Exchange Commission Chairman Mary Jo White is pressuring exchanges to collaborate on making their systems more reliable.

The Standard & Poor’s 500 Index was down 19.58 points, or 1.11 percent, at 1,750.91. The Nasdaq Composite Index was down 65.57 points, or 1.67 percent, at 3,866.44. The Nasdaq was led lower by an 11 percent drop in Whole Foods after its results on Wednesday, while Tesla Motors continued its slide, dropping 7.9 percent one day after a big fall on lackluster earnings and on reports of a third car fire. The stock remains a favorite among short-sellers who believe it is overvalued. Trading in OTC securities was resumed at 3:00 p.m.


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