CME Electronic Futures Trading Resumes After Halt Blamed on 'Technical Issues' -- 2nd Update
February 27 2019 - 12:34AM
Dow Jones News
By Saumya Vaishampayan and Alexander Osipovich
Electronic trading across CME Group Inc.'s futures markets
resumed late Tuesday after technical problems triggered an
hourslong trading halt.
The problem started at 7:39 p.m. Eastern time and trading across
all markets on CME's electronic platform was halted about 28
minutes later, according to a CME spokeswoman.
The Chicago-based company is the world's largest exchange
operator by market capitalization, offering futures and options
contracts for an array of assets, including soybeans, wheat, crude
oil and U.S. stocks. Trading on Nymex, Comex and the CBOT were also
affected by the glitch.
There were no live quotes for e-mini S&P 500 futures for
three hours starting at around 7:40 p.m. Eastern time, according to
FactSet. These are the most liquid contracts available for U.S.
stocks and are traded virtually around the clock.
CME said all its electronic markets reopened by 10:45 p.m.
Eastern time and added that all "day and session orders" with
Tuesday's date would be canceled.
The outage is unusual for CME, whose technology is typically
reliable, said Nick LaMaina, senior vice president at TradeStation,
a Florida-based brokerage that allows individual investors to
access CME's markets. On Tuesday evening, TradeStation used a
rarely invoked contingency plan to ensure that customers' orders
were properly handled despite the outage, Mr. LaMaina added.
Write to Saumya Vaishampayan at saumya.vaishampayan@wsj.com and
Alexander Osipovich at alexander.osipovich@dowjones.com
(END) Dow Jones Newswires
February 27, 2019 01:19 ET (06:19 GMT)
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