BATS Europe said it has resolved the “hardware issue” that shut off all trading on Tuesday.

The failure of an unspecified hardware component led to the halt of trading at 9:36 a.m.

The “ faulty component” was replaced and the issue resolved, according to spokeswoman Kelly Bailey.

But trading did not resume Tuesday, as originally projected. “We believe this is the best course of action in order to ensure trade data integrity and an orderly market,’’ Bailey said.

Trading on BATS Europe will reopen at 8 a.m. Greenwich Mean Time on Wednesday.

The hardware failure did not affect Chi-X Europe. BATS Global Markets completed its acquisition of Chi-X Europe last week. But it has not yet merged the two European venues’ technology operations.

That will happen over the course of the next seven months.

Chi-X Europe’s lit and dark order books are operating as normal.

BATS Europe said it had started a forensic examination of the outage and will conduct a full analysis.

Tom Steinert-Threlkeld writes for Securities Technology Monitor.



Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access