Swiss stock exchange suspends trading for several hours due to breakdown
Published: Wednesday, Jul 31st 2024, 17:10
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Trading on the Swiss stock exchange SIX was suspended for several hours on Wednesday due to a technical glitch. Due to problems with the data feed, the distribution of market data and index data no longer worked. The Spanish stock exchange BME (Bolsas y Mercados Espanoles), which belongs to the SIX Group, was also affected by the disruption.
Due to the disruption that occurred shortly after trading began, trading on the Swiss stock market was officially halted at ten o'clock in the morning. After an initial unsuccessful attempt to resume trading around midday, equities trading was then restarted at 2.30 p.m., with options trading in bonds also resuming a little later.
By halting trading on the Swiss market for several hours, the exchange operator wanted to ensure the "equal treatment" of market participants, a SIX spokesperson told the news agency AWP on Wednesday afternoon. However, these concerns were apparently not shared by the Spanish stock exchange BME, where trading was not halted on Wednesday.
Internal problem
According to the spokesperson, a technical process in a data distribution system component that had stopped working was identified as the cause of the malfunction. Accordingly, the glitch was neither caused by an external "hack" nor by a problem with an "update", he confirmed.
After restarting the components, the systems were up and running again. The exchange operator will now analyze the glitch in greater depth, it said.
Low deflections
However, the price swings on the Swiss stock market on Wednesday remained within narrow limits. Even after reopening in the late afternoon, the indices were trading close to Wednesday morning's opening price. In a generally friendly international stock market environment, the leading SMI index was up 0.4 percent at 12,333 points at around 4.30 pm.
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