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NYSE Euronext system glitch floors European trading

NYSE Euronext system glitch floors European trading

Root cause not yet announced

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The New York Stock Exchange’s European stock markets were this morning floored for two hours, after a significant system problem hit trading for a second day.

Paris, Amsterdam, Lisbon and Brussels exchanges – operating under NYSE’s Euronext banner – were effectively forced offline by the problem, which began shortly after the start of trading at 9.07 am and was rectified at 11 am. The exchanges experienced similar problems yeasterday, though it is not known if the technical fault was the same.

NYSE Euronext had not explained the root cause of the problem at  the time of writing. The technical issues also affected Euronext bond markets.

The company said in a statement that it had experienced “latencies” on trading systems after opening the markets today.

NYSE Euronext is moving its matching engine technology over to its Universal Trading Platform, which is based on Red Hat Linux running on x86 servers. It is not clear whether this move or these systems played any part in the problems.

“Due to technical issues, the pre-opening phase for regulated equities and bonds and ETFs [and] opening of the continuous trading session will be delayed,” NYSE Euronext told traders early this morning.

“Consequently, we have halted the regulated warrants and certificates market given the unavailability of the cash markets. All other cash markets, NYSE Arca and Smartpool, are properly working and open for trading," it said at the time. All systems are now live.

The news follows several outages on the Chi-X specialist electronic exchange in recent weeks. In February, the London Stock Exchange experienced severe problems that led to a four hour outage. It has not explained the technical reason for the problem apart from describing it broadly as a “data dissemination issue”.

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