On Wednesday, December 13, a system error on the Nasdaq Inc. impacted thousands of stock orders, leading to the cancellation of some orders and affecting over 50 clients, according to people with knowledge of the matter. 

The American exchange operator told market participants that it investigated the order-entry issue that caused inaccuracies and delays. According to a notice on its website, The system issue has now been resolved after rolling back the concerned application to a previous version. 

The notice issued by Nasdaq said that the incident started at 02:31 pm New York Time or 01:01 am IST after its ‘FIX/RASH order’ handling system experienced an issue caused by a duplicate internal order ID. 

Nasdaq’s electronic communication channel, which processes so-called financial information exchange or “FIX” messages, was affected. FIX message protocol defines an electronic message exchange for communicating securities transactions between two parties.

While investigating the issue, Nasdaq shut down the FIX/RASH order handling system, blocking all new orders and cancelling any open orders back to customers.