NEW YORK (CNNMoney) -- After halting trading for more than two hours Thursday afternoon due to a technical glitch, the Nasdaq OMX exchange laid out a plan to resume trading.
The exchange said that at 2:30 p.m. ET, it will begin with a 15-minute quote only period for two securities -- the Nasdaq Test Symbol (ZVZZT) and iShares MSCI Asia Information Technology ETF (AAIT).
During the quote only period, which it typically uses during initial public offerings, Nasdaq will accept buy and sell orders, and investors will also be able to cancel orders.
A 15-minute quote period for remaining Nasdaq securities is slated to begin at 2:55 p.m. ET, and trading is expected to resume shortly after 3 p.m. ET.
Nasdaq said it would not be canceling open orders, but said customers who wish to cancel their orders can do so, and customers who wish to not participate in the re-opening of trading should cancel their orders before trading resumes.
The Nasdaq is home to more than 2,700 stocks, particularly technology giants such asApple (AAPL, Fortune 500), Google (GOOG, Fortune 500) and Microsoft (MSFT,Fortune 500). Trading in Nasdaq-listed options were also halted.
SEC spokesman John Nester said the agency is "monitoring the situation" and that it is "in close contact with the exchanges."
Trading was halted around 12:14 p.m. ET due to issues with "quote dissemination," the exchange said in alerts sent out to traders.
The New York Stock Exchange said it halted all Nasdaq securities at the request of the Nasdaq. The BATS exchange also said it disabled trading in Nasdaq-listed securities.
The trading glitch could be another blow to investor confidence, which has been rattled over the years by the Flash Crash in 2010, Facebook's botched IPO, and more recently, a fat finger trade affecting China's stock market.
"We know machines run the show, but we're beginning to see glitches more and more frequently," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. "That doesn't help overall confidence among investors."