Nasdaq

Stock trading disrupted across Caribbean

January 4, 2019 by IC Insider.com

Trading has not commenced on either the Trinidad or Jamaica Stock exchanges up to 1 PM, Jamaica time.
Based on a release from the Trinidad and Tobago Stock Exchange, (TTSE) a systemic problem affected the trading activity in allof the three exchanges in Jamaica, Trinidad and Barbados is the reason for the lack of trading earlier in the day.
The TTSE issued a release earlier today as follows, “TTSE wishes to advise all our valued stakeholders of a delay in trading on January 4^th, 2019 due to a technical infrastructure issue experienced by one of our service providers which has impacted all three (3) major regional exchanges and is beyond the control of the TTSE. While our service providers are working expeditiously to resolve this issue, we have activated our business continuity process and advise that trading will commence later today. We thank you for your patience and cooperation at this time.”
The Jamaica Stock Exchange (JSE) advised no one of the problem, while a check on the Barbados Stock Exchange website revealed no information on trading for the day.

Marlene Street Forrest, Managing Director of the JSE.

The JSE has clients who utilize their trading platform but not even those persons have been advised about the problem and given an indication whether trading will occur or not for the day.
IC Insider.com had previously indicated that the problem was with the current trading platform that was installed at the start of 2016, has been plagued with several problems. Marlene Street Forrest, Managing Directors of the JSE advised that the problem was not with the platform but was a connectivity issue that impacted the system that prevented trading from taking place.

Filed Under: Breaking News, JSE Combined, Stock Market, TTSE Market Tagged With: Barbados Stock Exchange, Daily Trading, Jamaica Stock Exchange, Jamaican stocks, Nasdaq, TTSE

Go Pro up 27% end of opening day

June 26, 2014 by IC Insider.com

GoPro, Inc. gained 27 percent on its IPO debut, closing at US$31.45 after it had traded as high as US$33 during the first day of trading on the NASDDAQ exchange. The stock opened at $24.
The company manufactures and sells camera and camera accessories. It provides mountable and wearable cameras and accessories, which it refers to as capture devices. The company sells products through retailers, wholesale distributors and on the website. GoPro was founded on February 14, 2004 and is headquartered in San Mateo, CA. In 2013 revenues were just under a billion dollars with profits at $44 million.

Filed Under: Company News, Initial Public Offers, Stock Market Tagged With: GoPro Inc, Nasdaq

NASDAQ 3 hour shutter

August 22, 2013 by IC Insider.com

According to reports, NASDAQ, the second largest stock exchange in the USA and World, halted trading today for 3 hours due to a glitch in its computer system. This is bad news for one of the more popular exchanges that newer companies tend to flock as opposed to the older New York Stock Exchange (NYSE).

Previously, NASDAQ was in the headlines when Facebook debuted on the exchange and trading in the stock was suspended for hours before trading could begin, creating confusion and losses for many. The exchange was slapped with a US$10 million fine and suffered additional losses by paying out compensation to investors as a result of the failure.

Many were fearing that Facebook may shift the listing from NASDAQ to the NYSE but so far this has not happened.

One would expect these failures in third world countries and not in a developed one. The problem with failures is that it reverberates around the world as other exchanges rely on the NASDAQ for prices. In this case, over 50 exchanges worldwide were affected which could result in losses for some investors. More importantly, it affects investor and public confidence in a big way.