TSX says 'hardware failure' to blame for Friday outage, not cyber attack

29 April, 2018, 08:18 | Author: Elaine Woods
  • TSX, Montreal Exchange shut down Friday due to technical problems

In this case, a failure in a central storage appliance linked to both primary and redundant systems prevented failover procedures from engaging, TMX said in its statement.

The statement did not identify the vendor of the equipment that failed, though it said the outage was not the result of a cyber attack.

The failure on Friday afternoon halted all trading in stocks, options and derivatives on TMX's markets. The five-largest stocks traded in the Toronto Stock Exchange are the Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Suncor Energy and Canadian National Railway.

The problem began affecting the Montreal Exchange at 1:37 p.m. ET, and began hitting the TSX less than two minutes later.

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It says that due to the timing of the incident, it was impossible to implement disaster recovery systems in time to reopen on Friday. We expect to resume trading at regular hours on Monday, April 30, 2018.

"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", said Lou Eccleston, Chief Executive Officer of TMX Group.

"All systems are ready for the start of business on Monday", TMX said in a statement.

The operator of the Toronto Stock Exchange and the Montreal Exchange says a hack is not responsible for an unexpected shutdown on Friday, April 27. Due to the timing and nature of the issue, TMX has made a decision to shut down trading on all markets for the remainder of the day.

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