(Bloomberg) — Technical difficulties forced BATS Global Markets Inc. to halt trading on its second-largest stock exchange for more than 30 minutes on Monday morning.
The company suspended the EDGX market at 9:41 a.m. New York time, saying in a note to customers that it was investigating an issue related to platform modifications rolled out today.
BATS restarted trading on the exchange at 10:20 a.m., according to a statement on the companys website. Randy Williams, a spokesman, declined to comment further.
The EDGX market had a 6.7 percent share of U.S. stock trading last month, according to data compiled by Bloomberg. BATS acquired EDGX and EDGA last year after completing its purchase of Direct Edge Holdings LLC.
Malfunctions have struck the U.S. stock market repeatedly over the last few years. The list of errors includes Facebook Inc.s mishandled initial public offering on the Nasdaq Stock Market in May 2012, and the August 2013 crash in the Nasdaq- operated public ticker that led to trading in thousands of U.S. stocks being halted for hours.
Trading firms, as well as exchanges, have experienced faulty technology. An error by Knight Capital Group Inc. in August 2012 resulted in it losing more than $450 million in a single day. And last week Goldman Sachs Group Inc. agreed to pay a $7 million fine to settle regulatory claims that it sent thousands of mistaken orders that provoked turmoil in the U.S. options market almost two years ago.
BATS itself hasnt been immune. The company had to abort its own IPO in March 2012 because of a software bug.
