trading

PNGX’s Business Rules, which govern the trading and settlement of all trades on the market by stockbrokers, will be amended to require settlement on the second day after a trade (T+2), which is faster than the current 3 days (T+3).

The proposal was released for consultation in October 2022 with the new Listing Rules.

The change from T+3 to T+2 brings the PNG market in line with markets around the world.

T+2 means quicker payment for investors when they sell shares. It also reduces the risks to investors, stockbrokers and PNGX.

There was no interruption at the dozens of other U.S. stock exchanges Wednesday, including the Nasdaq, so investors were still able to buy and sell stocks easily.

The NYSE didn't say what the problem was but described it as internal issue and not the result of a breach of its systems.

The market was already lower as traders worried about China's failure to halt a plunge in its shares and talks remained stuck between Greece and its lenders.

The halt occurred at about 11:30 a.m. Eastern time Wednesday.

The exchange said in a statement that it was experiencing a "technical issue" that it was working to resolve as quickly as possible.

Before trading was halted, U.S. indexes were lower as investors worried about China's ability to stem a stock market slide.

The Dow Jones industrial average was down 215 points, or 1.2 percent, to 17,561.

The government reported early Thursday that spending surged in May by the biggest amount in six years. That's a sign of stronger economic growth ahead.

The Dow Jones industrial average rose 32 points, or 0.2 percent, to 17,996 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index rose two points, or 0.1 percent, to 2,110.

The Nasdaq composite gained eight points, or 0.2 percent, to 5,129.

IAC/InteractiveCorp rose 4 percent after the company said it would spin off Match.com and Tinder, two dating sites, into a separate company.