TMX says all systems ready for today’s market opening

Maria Nikolova

The Exchange had to shut down trading on all markets on Friday as a result of an incident that stemmed from a defective storage module.

TMX has confirmed that it is ready for a regular opening today, following an incident that battered the trading on the Exchange for several hours on Friday and stretched the nerves of traders and investors.

On Friday, TMX said it experienced an internal technical issue affecting service on Toronto Stock Exchange (TSX) TSX Venture Exchange (TSXV), TSX Alpha Exchange (Alpha) and Montreal Exchange (MX). The problems started at 1:37:25 pm on MX and 1:39:13 pm EDT on TSX, TSX V, and Alpha.

TMX said back then it identified the issue and was working to rectify it. Due to the timing and nature of the issue, however, TMX decided to shut down trading on all markets for the remainder of the day on April 27, 2018.

Today, the mood is optimistic. TMX Group has provided details regarding the market interruption that affected trading on a number of its subsidiary-exchanges.

The outage, which began at 1:37:25 pm EDT Friday on MX and 1:39:13 pm EDT on TSX, TSXV, and TSX Alpha, was attributed to what TMX called “a hardware failure in a central storage appliance of the trading system”. This hardware failure impacted both the primary and the redundant components preventing storage failover procedures from engaging. TMX noted that this incident was not the result of a cybersecurity attack.

TMX started implementing remediation measures on Friday afternoon. These included replacing the defective storage module, verifying the integrity of data of all impacted databases and conducting a successful start-up validation of the entire trading enterprise. Given the time of the incident, however, TMX could not engage disaster recovery systems in time to ensure an orderly market re-open and closing session.

TMX confirms that all systems are ready for the start of business on Monday, April 30, 2018.

Lou Eccleston, Chief Executive Officer of TMX Group, commented:

“We apologize to all of our valued clients across Canada’s capital markets and around the world, and to all of TMX Group’s stakeholders for Friday’s interruption in trading. Our team took immediate action to diagnose the problem and communicate with all of our participants while determining the cause and impacts. Due to the timing and the nature of the issue, we made the difficult but necessary decision to shut down trading for the rest of the day. TMX is committed to applying the lessons learned from this incident to help us prevent such issues from recurring in the future.”

Read this next

Retail FX

Banxso announces 8.7% interest rate on deposits in South Africa

“With Banxso, they can enjoy the benefits of both worlds – earning competitive interest and having the freedom to trade, all within the same platform.”

Industry News

FINRA to publish transaction details in U.S. Treasury securities

“Consistent with our longstanding practice, FINRA is introducing greater transparency in a calibrated and careful manner, benefiting liquidity and resilience in this critical market while also mitigating potential information leakage concerns.”

Institutional FX

OpenYield launches “cheap and easy” fixed income trading for brokers

“We’re on a mission to make bonds cheap and easy to trade, and are excited about the opportunity to build generational capital markets infrastructure.”

Digital Assets

Sumsub and Mercuryo publish a guide for VASPs: “Mastering Travel Rule Compliance”

“At Sumsub, we’ve concentrated our efforts on filling the gap in understanding the complexity of Travel Rule regulation and helping organizations find the best solution to stay safe and compliant while minimizing costs and avoiding potential risks of non-compliance. This guide we created with Mercuryo, our trusted partner, is the ultimate navigation tool all VASPs can consult.”

Digital Assets

Bitget Wallet Leads with Record Swap Volume & New Crypto Innovations

This week, Bitget Wallet achieved a milestone by surpassing Metamask with a record 388,757 Swap order transactions, securing the global lead. The significant 7-day trading volume, almost 68,000 more than its rival, underscores its liquidity and user trust. This robust activity signals Bitget Wallet’s prominent role and reliability in the dynamic crypto market.

Digital Assets

Embarking on a Digital Currency Journey

Imagine you’ve stumbled upon a treasure map, leading you to untold riches hidden in the vastness of the internet. Instead of gold coins and jewel-encrusted goblets, this treasure comes in the form of digital currencies, the modern-day loot coveted by many.

Reviews

Traders Union Experts Share The Trading Analyst Review For 2024

Navigating options trading in rapidly shifting markets poses a considerable challenge. This is where options trading alert services become invaluable. They aid traders in keeping abreast of evolving opportunities and market trends. In this assessment, Traders Union experts scrutinize The Trading Analyst alert service to ascertain its efficacy. 

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

<