(Bloomberg) -- A technical issue in a key reporting system that snarled over-the-counter stock transactions on Monday has been resolved.

The Financial Industry Regulatory Authority blamed “a trade processor experiencing systemic disruption” for issues with transaction reports for certain stocks. The industry-backed regulator said in a statement that “all queued messages have been processed, and no further action is needed from firms.” 

Finra hasn’t disclosed how many equities were impacted by the disruption, or what caused it in the first place.

Finra’s so-called Over-the-Counter Reporting Facility is a critical piece of market plumbing and is used to report stock trades that don’t occur on centralized exchanges like the New York Stock Exchange or Nasdaq. OTC trading is generally subject to lighter disclosure rules and regulation than transactions in stocks via major exchanges.

Cromwell Coulson, chief executive of OTC Markets Group Inc., said in an interview that the system was functioning normally after disruptions earlier in the day. “It’s been resolved. We are reporting trades,” he said. 

Monday’s disruptions follow other recent incidents that have affected trading in equities and derivatives. Over the past few weeks, a cyber attack on software firm ION Trading UK disrupted global derivatives trading, while a New York Stock Exchange malfunction may have impacted thousands of retail trades. 

--With assistance from Vildana Hajric.

(Updates with comments from Finra starting in second paragraph.)

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