10 Trading Glitches That Stopped The Markets
5. CBOE Mysterious Software ProblemOn April 25, 2013 a glitch at the Chicago Board Options Exchange, the largest U.S. options exchanges by volume, closed trading until 12:50pm ET.
“This was a software bug. It wasn’t any sort of hacking incident and these things happen with a software company,” CEO William Brodsky had said to CNBC. However, CBOE has been somewhat vague about the nature of the software problem. When pressed by CNBC, Brodsky said this was not a software upgrade and that the exchange did not violate any SEC procedures.