A technical malfunction at Nasdaq on Tuesday evening resulted in the cancellation of trades made by 800 Finnish Nordnet customers and caused the widespread display of incorrect stock prices across several financial platforms well into Wednesday.
The issue, which affected the Nordic and Baltic exchanges, triggered false pricing data for certain listed companies just before the market closed on Tuesday. Nasdaq announced early Wednesday that the error had been resolved, and trading in the Helsinki Stock Exchange resumed at 10:00 as scheduled.
Despite the resumption of trading, many services and media outlets continued to display outdated or inaccurate price data. These included Nordnet, Helsingin Sanomat, Yle, and Yahoo Finance.
Some platforms showed dramatic and false changes, such as a 22 percent decline in Kone shares and a 16 percent drop in Elisa stock, reflecting distorted reversals of Tuesday’s incorrect price spikes.
The Helsinki exchange told Helsingin Sanomat that the lingering misinformation was due to data providers failing to upload corrected end-of-day pricing files sent out by Nasdaq late Tuesday. These files do not update automatically.
Suvi Tuppurainen, Country Manager for Nordnet Finland, said the broker received the corrected data after 11:00 on Wednesday. As a result, the update was applied only after the day’s trading had already begun.
Before the correction, Nordnet’s homepage warned users that some displayed stock prices were inaccurate. Accurate prices were restored shortly before noon.
In addition to the data discrepancies, Nordnet had to inform its customers that Nasdaq had voided all trades executed on the Helsinki exchange after 18:00 on Tuesday due to the pricing anomaly. This affected all exchange-listed investment products.
According to Tuppurainen, 800 Nordnet customers in Finland were impacted. All received notifications about the cancellations by Wednesday morning.
HT
