Nasdaq Trading halts for the second time in a month, forcing thousands of trading apps to temporarily halt their apps.
The apps, which are the most popular on the platform, are all affected by the shutdown, but a number of other apps are still up and running.
The affected apps include Nasdaq-based Robinhood, which is currently offering its own app, and Hoola, a platform that helps users find stocks and ETFs.
“We’re taking this seriously, and we’ve done everything we can to make sure it doesn’t happen again,” Robinhood founder Michael Wieder told CNBC.
Hoola’s app has also been suspended.
The company says it will remain offline for at least the next three weeks, and that its developers are working with the Nasdaq team to improve the app.
The shutdown comes as trading apps scramble to meet demand amid the continued shutdown of Nasdaq.
MarketWatch’s Patrick Duffy reported that trading on Nasdaq is suspended as of 8:40 a.m.
In a statement, Nasdaq said the trading halt “is not related to any imminent issues with our platform.
Nasdaq also announced that the trading of trading and asset classes has resumed, and will continue until further notice.”
The Nasdaq platform is currently undergoing a maintenance period and we expect that this period will end sometime today, the company said.
Robinhood also announced it will be suspending its trading platform until the end of the maintenance period.
Robinhood said in a statement it will work with the SEC and the Office of the Comptroller of the Currency to implement a compliance plan that will provide the platform with the appropriate information to prevent future disruption.
We will continue to monitor the situation closely, Robinhood added.
This is a developing story.
We will update as we learn more.