All TMX markets suspended for the day after technical issues

Roman Schwartz
April 30, 2018

Trading is expected to resume Monday.

TMX Group said in a statement Saturday evening the hardware failure occurred in the central storage appliance of the trading system.

The Toronto-based company first flagged the issue on Twitter shortly after 2 p.m. EDT, updating numerous times through the hour to say the issues were persisting and that an investigation was ongoing.

More than 177 million shares were traded on the Toronto Stock Exchange before trading was shut down, according to FactSet.

The TMX Group operates numerous Canadian exchanges, including the Toronto Stock Exchange, the TSX Venture Exchange, and the Montréal Exchange. The market operates between 9:30 a.m. and 4 p.m. EDT. The TSX and the Montreal Exchange shut down all of their markets about two hours early on Friday afternoon after experiencing "internal technical" problems with trading.

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The worlds sixth largest stock market, Canada's, was shut down on Friday after an outage resulted in participants being cut off from exchanges.

Levine said he just sold $77,900 (C$100,000) worth of stock for a client Friday morning, including preferred shares.

"TMX is committed to applying the lessons learned from this incident to help us prevent such issues from recurring in the future", TMX Group CEO Lou Eccleston said.

The S&P/TSX Composite index, the main index for Canadian stocks, traded 0.2 percent higher at 15,668.93 as of 1:39 p.m. ET, which was the last update for the benchmark. The NYSE said Wednesday afternoon that Amazon.com and Alphabet wouldn't trade for the rest of the day, citing a technical problem.

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