Record Volume Snarls Nasdaq

FRAMINGHAM (04/06/2000) - The Nasdaq Stock Market Inc. set a new record on Tuesday with 2.9 billion shares traded, leading to capacity-related delays in its stock quotation system.

Nasdaq's SelectNet system processed a record 6.5 million quote updates - compared with the previous record of 5.8 million - and began experiencing delays after 2 p.m. Eastern time on Tuesday.

Nasdaq officials said the problem was resolved within about an hour and that trading continued uninterrupted during the day.

"As the orders were coming in, we had to shift from one computerized order file to another, and we had to reboot the system," said Nasdaq spokeswoman Judy Inosanto. She added that if a similar situation comes up in the future, the exchange will be able to handle it without the delays.

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