Amazon.com Inc. and Google parent Alphabet Inc. won’t trade for the rest of the day at the New York Stock Exchange, which is not a scary prospect because they’re listed by Nasdaq Inc. and seem to be trading just fine there and on other markets.
The NYSE blamed a technical malfunction, specifically a “price scale code issue.” Amazon, Alphabet and a third affected company, Booking Holdings Inc., all have stock prices exceeding US$1,000.
NYSE is the most famous of the three U.S. stock markets owned by Intercontinental Exchange Inc., and it only now started offering trading of Nasdaq-listed companies like Amazon, Alphabet and Booking. Nasdaq was formed in the 1970s, when NYSE was still an exclusive club. And a vestige of that era that’s finally going away is the NYSE floor had never handled trading of Nasdaq-listed shares.