BATS’ largest US exchange was hit by a technical problem yesterday that lasted for almost an hour, due to an internal network problem.
BATS Global Markets was not able to accept electronic orders between 1.10 pm and 2.00 pm Eastern Time, according to Reuters.
A spokesperson for the exchange said that all systems were now back online.
Exchange operator Direct Edge also had a technical glitch on Tuesday, which meant that it was briefly unable to accept orders on its EDGX exchange for stocks with symbols ranging from SPYV to TNC.
These latest problems follow a string of high-profile technical glitches, which has resulted in the US Securities and Exchange Commission looking to implement a set of rules that would require exchanges, clearing agencies and other trading platforms to put in place plans to deal with major market disruptions caused by faults.
For example, last year a consortium of firms had to rescue Knight Capital after a software glitch caused the trading firm to lose almost £300 million. This followed Facebook’s disastrous IPO, which saw Nasdaq agreeing to pay $10 million dollars to the social networking company after a design flaw in the trading system held up the highly-anticipated event.