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Nasdaq and ArcaEx Fight Over Halt

Traders Magazine, December 2003

Gregory Bresiger

Nasdaq, in another swipe at a competitor, says the lack of coordination among markets recently harmed investors. Nasdaq halted trading in Corinthian Colleges (COCO) on a recent Friday. ArcaEx "didn't honor" the trading halt, Nasdaq charged in a letter to the Securities and Exchange Commission. But Dale Carlson, a spokesman for ArcaEx, said that Nasdaq didn't have the regulatory authority to halt trading. "The cancellation was unjustified, inappropriate and badly communicated," Carlson told Traders Magazine.

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