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Trading resumes in Germany's DAX, other exchanges after outage

TechnologyJul 01, 2020 07:10AM ET
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© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt

By Thyagaraju Adinarayan

LONDON (Reuters) - Trading in German blue-chip index DAX (GDAXI) and other exchanges across Europe resumed after nearly three hours of outage on Wednesday due to a "technical issue" at German electronic trading platform Xetra.

The interruption in the fully-electronic cash market trading system affected stock exchanges in Frankfurt, Vienna, Ljubljana, Prague, Budapest, Zagreb, Malta and Sofia as they use the Xetra T7 system, exchange operator Deutsche Boerse (DE:DB1Gn) said.

The technical snag is a further blow to Deutsche Boerse, which saw one of its longest outages in April when the Frankfurt stock exchange was halted for more than four hours.

Chief Executive Theodor Weimer said after the April blackout that the stock exchange had taken precautions to avoid such a breakdown in the future.

Exchanges came back online around 0930 GMT, but the cause of the disruption in Xetra on Wednesday was not immediately clear. Deutsche Boerse spokesman Patrick Kalbhenn declined to comment.

The German stock exchange's cash markets generated a turnover of 159.8 billion euros ($179.5 billion) in May.

The Austrian blue-chip index (ATX) opened 0.1% higher at around 0930 GMT, more than two hours after the scheduled opening time, while Germany's DAX (GDAXI) opened down 0.5%.

Some European bond and stocks futures affected by the Xetra issue also resumed trading.

Trading resumes in Germany's DAX, other exchanges after outage
 

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Comments (8)
Ed Spal
Ed Spal Jul 01, 2020 7:04AM ET
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Cyber attack
Kyle Stuart
Kyle Stuart Jul 01, 2020 6:42AM ET
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Good data coming out of germany , low number of cases,yet after the technical glitch it drops 130 + pips for no reason what so ever .If this isnt manipulated i dont no what is.
Gian Carlo Orlandi
Gian Carlo Orlandi Jul 01, 2020 6:42AM ET
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I’m sure you had an explanation for the 3/4000 pips raise in the last 3 months
Sean Livingstone
Sean Livingstone Jul 01, 2020 6:41AM ET
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Always happen then market start to sell or buy before a big crash or rally.. Make sure retail miss the top or bottom..
Liran Shrem
Liran Shrem Jul 01, 2020 6:05AM ET
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when the selling started, also the technical glitch.... circuit breakers!!!
Alex Malmstrom
BrassTacks1 Jul 01, 2020 5:24AM ET
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Again? This already happened in Spring this year. How convenient considering the raid of the Wirecard headquarters today and the new, tighter regulatory measures to be imposed on DAX components. Also, Bayer is not in the clear yet following the Roundup Closure. Lots and lots of conveniences!
eddie glass
eddie glass Jul 01, 2020 5:08AM ET
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Xetra clearly a victim of COVID-19
eddie glass
eddie glass Jul 01, 2020 5:08AM ET
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the US has counted the German stock exchange as part of the COVID-19 cases counts
Remil Canete Sedurifa
Remil Canete Sedurifa Jul 01, 2020 4:42AM ET
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Hope it will be fix asap!
 
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