NYSE Arca to cancel multiple trades

The New York Stock Exchange said on Thursday it would cancel all trades on its all-electronic trading platform NYSE Arca that were executed between 14:40 and 15:00 ET and that were more than 60 pct away from their last print at 14:40.

The move follows a similar decision by the Nasdaq after major U.S. indexes plunged 9.0 percent in afternoon trade before recovering to finish over 3.0 percent down. Traders suspect a trading glitch exacerbated the fall.

[Source: Reuters, New York, 06May10]

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