NYSE glitch affected more than 250 stocks, caused large price swings

for affected stocks. The process, based on supply and demand, uses a computer to determine opening prices for stocks.

However, the system issue"resulted in continuous trading of those securities commencing at 9.30 a.m. without an opening auction print," the NYSE said in a statement. This in turn caused stocks to start trading at unusually high or low prices. The NYSE said it was canceling the unusual trades put in before price limits to curb volatility kicked in, according to"Such events are extremely rare, and we are thoroughly examining the day's activity to assure the highest level of resilience in our systems," Michael Blaugrund, the chief operating officer of the NYSE, toldShares of the Intercontinental Exchange, which owns the NYSE, closed 2.22% lower at $106.25 on Tuesday.

“Affected cause”

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