A meeting of exchange heads and other market participants will be organized to address the technical vulnerabilities of exchanges.

A malfunction in the Securities Industry Processor, which is responsible to consolidate and disseminate price quotes to the wider market, resulted in trading interruption in entire $5.65trn of Nasdaq-listed securities for three hours.

SEC chairwoman Mary Jo White said, "Today’s interruption in trading, while resolved before the end of the day, was nonetheless serious and should reinforce our collective commitment to addressing technological vulnerabilities of exchanges and other market participants.

"As one step, I will work to advance rules that the Commission proposed earlier this year regarding new standards for the trading and other systems that are central to the integrity of our market."

After resolving the problem within 30 minutes, the exchange said, "Nasdaq OMX will work with other exchanges that are members of the SIP to investigate the issues of today, and we will support any necessary steps to enhance the platform."

Due to the trading breakdown, the prices on big technology stocks like Apple, Google and Facebook as well as the value of the Nasdaq index remained frozen.

Most recently, investment bank Goldman Sachs also suffered a trading glitch and it is expected that the error will cause nearly $100m loss for the investment bank.

In May 2013, the SEC has imposed a monetary penalty of $10m against the exchange operator Nasdaq, for its faulty handling of Facebook initial public offering (IPO) held on 18 May 2012, which caused nearly $500m losses for market participants.