Volume So Massive In ING, Exchange Has To Halt Trading

So many shares of ING were pushed through the NYSE Euronext exchange today that computers hit a glitch and could no longer keep up with the amount of shares being handled. The record number of shares makes one wonder how high frequency trading (HFT) could have played a part in this:

Washington Post: ING <ING.AS> shares were sold sharply lower the day after it announced plans for a highly dilutive rights issue, before the record number of shares trading hands caused a technical glitch and the share’s suspension.

Due to the high trading volume of almost 99.4 million shares, compared with a daily average of 22.8 million, a technical error occurred, halting share trading around 1545 GMT, a spokeswoman of exchange operator Euronext said.

“A technical problem was caused due to the high order volume concentration, halting the share trade,” the spokeswoman said.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.