Trading in Germany’s main index DAX and numerous other European money and futures exchanges was halted for almost 3 hours on Wednesday due to a “technical problem” at German electronic trading platform Xetra. The disturbance in the fully-electronic money market trading system impacted stock market in Frankfurt, Vienna, Ljubljana, Prague, Budapest, Zagreb, Malta and Sofia as they utilize the Xetra T7 system, exchange operator Deutsche Boerse said.
Xetra’s T7 system for cash stock trading was not available starting around 847 am CET, the exchange operator states on its site. Trading of derivatives on Deutsche Boerse’s Eurex also faced technical troubles, and just about 30 of 99 stocks on Germany’s HDAX big and mid-cap index were revealing trades since open of trading in Frankfurt.
” Due to technical issues, the Eurex T7 system is not readily available at the minute. Alternative exchanges like the Tradegate Exchange in Berlin were operating appropriately.
The chart listed below show the nearly 3 hour long trading halte in the cash DAX, which toppled as soon as trading resumed.
The technical snag was an additional blow to Deutsche Boerse, which saw one of its longest outages in April when the Frankfurt stock exchange was halted for more than 4 hours.
As Reuters reports, Deutsche Boerse CEO Theodor Weimer stated after the April blackout that the stock exchange had actually taken precautions to avoid such a breakdown in the future. Simply two months later on, it was followed by another 3-hour-long stop.
Exchanges gradually returned online around 0930 GMT, but the cause of the disturbance in Xetra on Wednesday was not instantly clear. The DAX ultimately reopened just around 1145 am CEST.
The German stock market’s money markets produced a turnover of 159.8 billion euros ($1795 billion) in May. Some European bond and stocks futures affected by the Xetra concern likewise resumed trading.
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