CME Group halted trading on its Linux-based Globex electronic platform for four hours on Monday, as a result of “technical issues” caused by planned software updates.
The world’s largest futures exchange, which owns the Chicago Board of Trade, New York Mercantile Exchange and others, made the software reconfigurations over the weekend as part of ongoing updates to technology, according to Reuters.
The start of trading on the Globex platform was delayed as a result of the problems, with markets opening four hours later than usual, at 2am GMT. All markets are now operating as normal.
CME Group runs its trading platform on the Linux operating system, using commodity hardware such as HP and Dell. It previously relied on mainframe-like Tandem NonStop systems, managing to reduce latency from seconds down to 4-6 milliseconds by migrating to Linux boxes in 2011.
It is the second outage to hit CME in recent months, with another Globex outage on its agricultural markets in April due to a technical failure.
Almost exactly a year ago, Nasdaq OMX suffered a software-related outage on its exchange which resulted to a three-hour halt in trading. The incident led to calls from US regulators to improve software systems at exchanges, including introducing a “kill switch” to enable trading to be shut down in the event of a technology failure.