Listed. Over five and half trillion. None of them can be traded until the nasdaq puts up the official word that theyre going to go. As of right now the push the trading time back. Liz let us know when those people come out from behind that trust us. Is the kind of reporter will be banging on the door. Again, for now, 3 25 p. M. Eastern time. Want to get that rich edson and washington d. C. Speaking to nasdaq listed ceos of billion mediumsized companies. About four out of seven are telling me they absolutely suspect that there is something nefarious. Simply because how could it not paired with the problem the other day. Of course we dont know yet because the nasdaq is not said anything. What is the sec looking at . We dont know that yet either with the sec is doing right now is essentially monitoring the situation. They did convene a Conference Call according to the sec right after this started. Stayed on the phone while they tried working out the problems. The Treasury Department remember, treasury, the secretary is the head of the Financial Stability oversight council. That was created by doddfrank and responsible for making sure that the market is performing a carry. Basically financial security. They have been notified of this. The treasury secretary has been briefed and is being updated out on the west coast, expected to speak about an hour. We will be monitoring that as well. The fbi in new york is aware. No comment beyond that, but when you talk about not understanding what is behind this, you still have this drum beat that is becoming louder for the government to get more involved when it comes to server security, both when it comes to theft of intellectual property and making sure that the nations infrastructure is safe. You Better Believe that the nasdaq is counted among the safety of the infrastructure. We have calls out to congress, but theyre out for the next two and a half weeks. This is the type of thing that you can certainly expect some type of investigation on or few hearings if this is found out to be something and somebody acted to bring this down. Liz again, not to speculate. We can at least go down this road because its not a stretch. I am hearing from very smart ceos in Silicon Valley who say this is a massive issue and has been for more than three years. The u. S. Military would come to speak to some of the Silicon Valley companies. Exactly. And not just hearing it. Your hearing in all other types of nations infrastructure. Its not just hackers attempting to go in and take Company Secrets and profit. The concern in washington has always been about infrastructure and questions as to whether were doing enough. We dont know the reason behind it. Liz Team Coverage continues. Nicole petallides on the floor of the New York Stock Exchange. Everything is trading just fine. We want to make that clear. Reporter thats absolutely right. The New York Stock Exchange is functionally perfect. Nasdaq listed stocks that also trade here as a secondary market , some of those cases are not trading because here at the New York Stock Exchange, that direct edge, all of these exchanges and other places to trade liz partial trading has begun. Partial trading has begun. Although, as you see with the composite on this chart, right after 12 20 p. M. Eastern, it is still a flat line. When we say partial, we mean that all the a certain number of stocks happen. To reset the story shortly after 12 15 p. M. Eastern the nasdaq started to notice some strange behavior. Their electronic trading system began shutting down trades of certain stocks that started to look suspicious. Says specifically it trade in young. They just pulled the plug and said with a second. Were hearing right now that partial trading has resumed. And so therefore were just going to sit here and watch to see if this line. But its still absolutely flat. Were doing a great disservice by suggesting trading in nasdaq stocks. There is no trading. They are trading. They are trading off of the nasdaq exchange. You cannot trade these stocks on the nasdaq exchange. Apple, facebook, they can trade other places. So lets just be clear. This is and nasdaq listed stock. Cannot trade on the nasdaq. That is a whole other can of worms. We have a market structure. 40,000. Maybe 40 exchanges out there which compete with each other to trade. That means a kind of dont know what pressure digging. The other side of the story is the Cyber Security story. They thwart almost every day an attempt to break into their system. So this is a huge story. If a hacker was successful in shutting down one of the primary markets and the united states. Liz im looking at intel. Its not moving. Where you getting that . Liz im looking at nasdaq. You are getting the print from nasdaq. Liz but thats the issue. No, its not. It is the issue in the sense that you dont know what your prices. Liz thats a major issue. Nicole, what are you seeing and hearing . The issues that will be trading, when you will really see the nasdaq trading, more than 3 25 p. M. Theyre conducting testing. You talked about partial trading beginning. The whole idea here is that the nasdaq reputation has been put at stake. The backup system, a Technical Glitch with no further information for over two hours. Granted, its a beautiful thing that the exchanges works nicely together. Listen. It will play nicely. We also will not treat any of your shares for intel microsoft. All of the shares. The question is, what is this happen . When will it happen again . Tomorrow, never . Liz at Trading Floor, the Worlds Largest futures and commodities Trading Floor and a mass of Electronic System is the Chicago Mercantile Exchange were sandra smith is. Talk about what theyre saying about this. Obviously as you know, there will always be traders mauling about speculating on what caused the outage. That is certainly the case. What i can tell you is that this cme issued a response directly following the outage saying that the market, the product was not affected or impacted was the word during the trading glitch. May i remind you that we have an outage with the cbot about three months ago that did have ripple effects in the markets. There is concern on a daily basis about these potential outages and what is causing them thats something that the traders are living with. In fact a small bunch of us were looking at an intraday chart. The nasdaq futures trader right here. And we did see that we sold off the lows of the session. And we saw everything resume trading. The fear gauges down. So there is a call down here. It really stayed that way. When you have competing markets it could trade elsewhere. You dont need the nasdaq open for these stocks to trade. Liz the fox business translator. As we do this and getting an email from Charles Payne who is correctly reported that trading in a a. M. The, Atlantic America corp has very slowly but surely begun. Very small takes. Trading volume. On the nasdaq. Liz correct. That is what were talking about. A a. M. He is what is trading. It is certainly not an Intel Corporation cool, but all other securities, were still waiting for most of them. 3 25 p. M. I would say this, there are two stories here. Obviously this ever security story. If this was some sort of hacker, a big problem. Theres the other security that the sec will not address, the other story which is that our markets are convoluted. Nasdaq traded stocks are trading elsewhere. We dont know exactly what those prices are. Its going on as we speak. Thats why these traders, most of them could not care less about the average investor, are very call right now. The average investor who does not know exactly what theyre getting, at what price. Liz lets get a trader down at the New York Stock Exchange. A real live one, not electronic. And one that does care about individual investors. Please go ahead. Clearly the Technology Glitch will affect markets across the board. Even though this is just centralized by nasdaq, the Investor Sentiment will be affected by this. Multiple instances. Multiple instances of this, and this is going to get the ball rolling as to how technology has outgrown the rules and the needs to be all revamp of the system. Clearly we have had issues before. Having humans here to fix things quickly is what is the most important thing. As you were saying, i disagree. Youre saying that some of these are trading in the dark. They halted trading across the board. A stock in trade anywhere. It does not have to trade at the New York Stock Exchange. Im just saying, you could trade a stock. You can trade. But they are not trading. It is halted on the primary markets. On the primary market. Suppose youre right each rated have a bunch of orders of facebook or when this went down. Your telling cant go to a dark pool and get it done. Theyre not treating them that guard pools. If anything, theyre hedging his bets. You should be able to trade anywhere in the world by the way, you should be able to traded on the Goldman Trading desk. Thats my main point. You can trade these things away from public markets. Liz but the average investor out there, the Retail Investor is somebody who is usually trading in going through these bigger exchanges. You look at this. I am reaching out to ceos all over the place. Mostly Silicon Valley. Theyre telling me they have not been contacted. Until the not have a comment. We have been in contact with them. Of course there were one of the first weird trades that started to concern the nasdaq. The rest of them have not received anything. I have just been getting something from the cnr does not wish to be named. Finally just now. 3 12 p. M. Eastern, three full hours they have not heard from the nasdaq. Twentyfirst century fox. We and nasdaq listed. Have we even begin to call over three Dozen Companies . By the way, we are not able to trade your shares today here at the nasdaq because of a Technical Glitch. I mean, if youre so worried about fixing it. Liz something of the cme in chicago. Adjust really truly, standing on the Trading Floor, have to respond to this suggestion, as much as i love the guy, suggesting that the best interest of the individual investor does not lie with the east changes. It absolutely does. Electronic trading brought the liquidity to these markets that improved the price that the individual investor gets. Its absolutely absurd teeseven a little more of a debate. Read on of the execution. You cant deny that liquidity has been improved. You cant deny. Liquidity by the way, wasnt there . Liz could we please put up nasdaq to so that we can have a live feed and seed . They have said that partial trading began. It really does not look like it at the moment. Here it is, the nasdaq composite. There is not a lot on the nasdaq. Jeffrey grossman, youre at the nymex. Yes, i am. Liz from your perspective on energy trading, what are you hearing from traders . We had business as usual today. A glitch. We looked. Again, as a person and exchange, for the floor traders, a problem with electronic trading. We have always felt that there is too much reliance. Whenever this goes down no one can do anything. The Human Element has been taken out. Desert. A lot of advances. Are not arguing about volume. Some of the liquidity and transparency, but whenever you take that Human Element, the possibility of the back door being worked in there. Or an attack. Listen. I wish to turn the clock back. I was very happy when it was just normal pitch rating. Liz its all very nice. The Intercontinental Exchange has taken over. Sure, he was going to remain, but you know there will be layoffs. Hes a big electronic trading guy. Its very important to have the human voice so that when the ghosts in the machine starts to take over, you guys say the day. We use the analogy before about autopilot. You want to have the pilot in the cockpit. When you hit turbulence, when you land and take off you want in there. To touch on a point the said before, i could tell you some executives that are on two sides of the fence. The oracle executives are happy they switched. The twitter executives are watching st. , where she will star ipo when we come public . Liz why dont they start their own exchange . Now want to go to a trader at the cme. Long time, heavily experienced. I no youre rolling your eyes and saying this does not surprise me. What is surprising is that there is not really been an indication of what the causes. If youll allow me to my want to comment on this in two ways. As someone who traded in the pits back there and now trades electronically, im going to side with sandra. We had something when it was all live pitch trading, we were not held to prices. Prices were wider than they should be. And this happened more than once a week. So liquidity has improved. Price discovery has improved. The electronic trading. But having said that, these instances are opportunities to say that humanity or human trading might be a decent backup for the improvements that have been made electronically. Liz imagine that. I want to jump. I just had a good source point out that the spiders are trading on the New York Stock Exchange. There has to be nasdaq stock in the spiders. Liz there are. Out of reno if the print is inaccurate. Liz how could it be . She should be talking to the New York Stock Exchange and ask them, just make sure they are trading. How could they be reflecting true value . And this source tell me that some of these stocks could trade off the exchange. But the price is what the nasdaq. The nasdaq price. I think the New York Stock Exchange, her right now reflecting a thing close to true value . Well, what is in the s p 500 . Liz a huge part. See if you can run into somebody on that issue. We have to take a break. Again, we had just about seven minutes away from what the nasdaq is said would be a resumption of trading after a massive technical problem that theyre calling a flash freeze. We are staying on this huge story about todays dramatic news on the nasdaq. What it means for you, ceos are watching, have affects trading. The issues Charlie Gasparino just brought up, and whether it raises new red flags about the entire trading system. As you can see, nasdaq composite is flat. Live cameras right outside. Stay tuned. Dont go away. [ male announcer ] these days, a Small Business can save by sharing. Like carpools. Polly wants to know if we can pick her up. Yeah, we can make room. Yeah. [ male announcer ]. Office space. 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Liz we are now less than four minutes away from what the nasdaq has said would be a resumption of trade after more than three full hours of an outage said they are calling the flash freeze. Full Team Coverage on this breaking story. Adam shapiro outside the nasdaq. Rich edson in washington d. C. Where he is following the sec investigation. Charlie gasparino has been working the phones talking to sources. Nicole was on the floor of the New York Stock Exchange were trading has not been interrupted. Im actually looking at a couple of things. Number one, watching the Dow Jones Industrials and the s p 500 as well as the nasdaq composite index. It has not moved in three hours. The Dow Jones Industrials and the s p 500 have components within the such as microsoft and intel, cisco. Have been talking. Talking about the spider. He was checking on that. Rita able to find anything out . Nasdaq traders are not trading. The health care, the oil and things like that, they are trading. So the nasdaq spiders which we were checking on. Liz how about the s p 500. The s p 500 spiders. The s p 500 spiders, i would imagine they are. Liz but the nasdaq stocks within them. Well, that would be for the Dow Jones Industrials as well. The dow components. Liz my point. Thank you for bringing this up. Intel is the nasdaq traded stock, but it is in the Dow Jones Industrials, the same with cisco. If we put up cisco and intel, you would see that they are not trading. Bigger issue. Did the small investor get hosed . If the Dow Jones Industrials is up 62 points right now not including intel and cisco. By the way, talk about microsoft cannot talk about and tell and cisco. They are weighted. 1 plus. Its a weighted average. Those three names are not trading. You dont generally bu