NEW YORK, Oct 19 (Reuters) - Trading in stocks and
derivatives was frozen for three hours in Amsterdam, Brussels,
Lisbon and Paris on Monday due to a technical glitch at exchange
Exchange outages, caused by software and hardware glitches,
cyberattacks, and even hungry squirrels, have roiled markets and
shaken investor confidence for decades, as trading has moved
from the floors and pits of bourses to electronic systems that
match trades at nearly the speed of light.
Here are some of the major outages:
Oct. 1: Trading on the Tokyo Stock Exchange was
brought to a standstill by a hardware failure, in the worst-ever
outage for the world's third-largest equity market.
Aug. 28: New Zealand's stock exchange resumed
trading after four consecutive days of disruptions in the wake
July 1: A software glitch temporarily shut down trading on
Germany's electronic trading platform Xetra, managed by Deutsche
Boerse. It was the second time the system had gone
down since April.
May 8: The Moscow Exchange suspended stock trading for 42
minutes because of a software error.
Feb. 27: TMX Group Ltd, Canada's biggest stock
exchange operator, had its second outage in less than two years,
when a hardware failure caused problems with order entries,
resulting in the shutdown of trading across three local bourses
for nearly two hours.
November 1, 2019: Nasdaq Inc's Nordic and Baltic
stock markets were halted by technical problems twice in one day
due to exchange connectivity problems.
September 5, 2019: Hong Kong Exchanges and Clearing
suspended derivatives trading for the afternoon due to
a software bug that led to connectivity issues on the Hong Kong
Futures Automatic Trading System.
August 16, 2019: A software issue delayed the start of
trading on the UK blue chip FTSE 100 and midcap
stock indexes for almost two hours in what was the longest
outage at the London Stock Exchange in eight years.
April 25, 2018: Intercontinental Exchange Inc's New
York Stock Exchange (NYSE) suspended trading in five stocks,
including Amazon and Alphabet, for part of
the day due to a technical glitch involving trade reporting.
July 14, 2016: The Singapore Exchange Ltd
suspended securities trading for the last half of the day due to
duplicate trade confirmation messages being generated.
July 8, 2015: The NYSE was forced to suspend trading for
several hours due to an internal technical issue.
March 31, 2015: ICE's NYSE Arca had a technical glitch that
resulted in some of the most popular exchange-traded funds being
temporarily unavailable for trading and some investors paying
more for stocks than they otherwise may have.
Aug. 22, 2013: Trading in all Nasdaq-listed stocks was
halted for several hours after a software glitch caused
connectivity issues to an industry data feed. The shutdown
prompted the U.S. Securities and Exchange Commission to summon
Wall Street leaders to hash out a plan to improve market
stability. In November 2014, the SEC passed a new rule that said
exchanges must establish and enforce policies to ensure their
systems are resilient and secure.
May 18, 2012: Facebook Inc's $16 billion initial
public offering on the Nasdaq was marred by technical glitches
that resulted in a delayed opening and many traders being left
in the dark for hours as to which trades had gone through,
leading to substantial losses at several firms.
March 23, 2012: Bats Global Markets, which was later bought
by Cboe Global Markets, was forced to cancel its IPO on
its own exchange after a series of glitches caused by a software
May 6, 2010: Unsettled market conditions combined with a
massive, aggressive sell order for a popular futures security
triggered a "flash crash" that sent the Dow Jones industrial
average plunging over 1,000 points, temporarily wiping
out nearly $1 trillion in market value.
August 2, 1994: A squirrel chewed through a power line in
Trumbull, Connecticut, where the Nasdaq used to keep its
servers, and the exchange's backup power system failed to kick
in, leading to a more than half an hour outage. A similar
incident happened on Dec. 9, 1987, when a squirrel chewed
through a power cable in Turnbull, setting off a sequence of
events that shut down trading on the Nasdaq for nearly an hour
and a half.
(Reporting by John McCrank; Editing by Steve Orlofsky and Sonya