NYSE suspends trading in Amazon, Alphabet on floor because of issue with their $1000 stock prices - CNBC

The New York Stock Exchange suspended trading on the floor for the rest of the session Wednesday in Amazon, Booking Holdings and Alphabet due to a “price scale code issue,” according to the exchange’s website. The stocks traded normally elsewhere, including on their home exchanges.

The exchange said “any open orders in these securities will be cancelled” on its status page.

The issue affecting stocks with prices above $1,000 which trade primarily at the Nasdaq. Booking Holdings (formerly Priceline), Amazon and Alphabet are the three highest priced stocks in the S&P 500 and the only ones with prices that are four digits.

Overall trading volume was in line for the names as activity was normal on their home exchanges and other venues. Trading continued on NYSE’s own Arca and NYSE-American systems in the stocks.

The NYSE floor began to allow trading in all listed securities (including those listed on Nasdaq) on April 9th of this year. Trading in all listed securities had already been occurring on the NYSE’s electronic platform, known as NYSE-Arca, and on the old American Stock Exchange, now known as NYSE-American.

Earlier Wednesday, NYSE posted a status update calling out an issue with the prices:

11:16am “NYSE customers using Binary CCG order entry ports are advised that execution reports priced at or above $1000 in some Tapes B and C securities (including AMZN, BKNG, GOOG, GOOGL) are being published with a ‘price scale’ code of 5. NYSE expects this behavior to continue for trading today and will provide a further update before the start of trading tomorrow.

All other systems, including the price scale code for Tapes B and C market data, are operating normally. “

“To me it sounds extremely minor and not a big deal,” said Joe Saluzzi, partner and co-founder at Themis Trading.

The NYSE told CNBC it was looking into the matter.

–With reporting by Bob Pisani