NYSE says sell short restriction was triggered 'erroneously'

[January 25, 2023]   (Reuters) - The New York Stock Exchange said on Wednesday that a sell short restriction (SSR) was "erroneously" triggered in a set of ticker symbols for companies listed on the exchange on Tuesday that led to a glitch at market open.

A trader enters the floor of the New York Stock Exchange (NYSE) in New York City, U.S. June 14, 2022. REUTERS/Brendan McDermid

The glitch prevented the opening auctions for a slew of stocks, prompting widespread trading halts, confusion over whether orders were being filled at correct prices and trades in more than 250 securities being busted.

The SSR is a process aimed at limiting short selling. The goal is to prevent short sellers from pushing the shares of a company lower.

The SSR will be deactivated prior to the NYSE opening on Wednesday, the company said.

(Reporting by Niket Nishant in Bengaluru; Editing by Anil D'Silva)

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