Orders disrupted in trading breakdown
By Cathy Ding |
November 6, 2010, Saturday
|
Print Edition
Print Edition
THE Shanghai Stock Exchange suffered a glitch in its trading system yesterday morning for about one-and-a-half hours, which affected the processing of orders.
The system was fully restored in the afternoon session but trading of exchange-traded fund products was still suspended, the exchange said in a statement.
The exchange, the bigger of the two on the Chinese mainland, said in another statement that the trading system in the morning session slowed due to a system fault which caused customers to be unable to place orders or revoke orders.
A switchboard at the exchange broke down and completely halted the processing of orders in the system.
A source at a major domestic brokerage told Shanghai Daily that the faulty switchboard had affected securities firms, including Guotai Junan Securities and Haitong Securities.
Other media reports said Citic Securities and Guodu Securities also reported similar problems.
Some online trading firms such as E-Money Investment and Da Zhihui yesterday also reported market quotations were delayed due to the system breakdown.
The system was fully restored in the afternoon session but trading of exchange-traded fund products was still suspended, the exchange said in a statement.
The exchange, the bigger of the two on the Chinese mainland, said in another statement that the trading system in the morning session slowed due to a system fault which caused customers to be unable to place orders or revoke orders.
A switchboard at the exchange broke down and completely halted the processing of orders in the system.
A source at a major domestic brokerage told Shanghai Daily that the faulty switchboard had affected securities firms, including Guotai Junan Securities and Haitong Securities.
Other media reports said Citic Securities and Guodu Securities also reported similar problems.
Some online trading firms such as E-Money Investment and Da Zhihui yesterday also reported market quotations were delayed due to the system breakdown.
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