Nasdaq has updated its April 25th post mortem:
“On April 25, 2011, NASDAQ experienced an issue with its Market Maker Automated Quotation System whereby the system had invalid and stale market data for a subset of securities. The issue, which was caused solely by a NASDAQ malfunction, resulted in automated quotes in those securities being posted at aberrant prices starting at 09:28:00. In many of these cases these quotes resulted in executions for participants. The application that controls these functions was updated and at 10:02:42 the system was normalized. NASDAQ has determined the root cause of the issue and has taken steps to
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