Nasdaq Reveals Cause Of Trading Halt

Nasdaq OMX Group Inc (NASDAQ:NDAQ) has released details about the software bug that led to a halt in trading on the exchange on August 22. The exchange said that the trading outage was caused by “latent software flaws” in the Securities Information Processor, or SIP. The initial findings report shows that a confluence of events led to the closing of the exchange last week.

According to the report a number of the issues “were clearly within the control of NASDAQ OMX.” The company said that it intends to take all of the steps necessary in order to...