The Toronto Stock Exchange has reportedly paused all trading activities after facing some technical issues on Tuesday. As a result, trading across Toronto equity desks has been paused. It was revealed by TMX Group that there were some technical issues with order entries.
TMX Group, which operates the exchange, stated that for the TSX, TSXV, and Alpha markets, trading halted after 10:00 a.m. in Toronto. The glitch was experienced after the market opened on Tuesday morning.
The exact reason for the outage is also unknown, as stated by the TMX Group Spokesperson, Catherine Kee. She also mentioned that an earlier glitch had affected the stocks with starting letters M through S.
Toronto Stock exchange to resume trading at 11:10 AM Toronto time
As per details from the TMX website, the markets are said to reopen at Toronto time at 11:10 a.m. TMX had previously faced a trading outage in February 2020. The outage was caused due to heavy trading that triggered a system capacity issue. Another outage dates back to 2018 when it faced a hardware failure.
Ninepoint partners and senior portfolio manager Eric Nutall commented on the event. Nutall stated that he feels like he is trading on a third-world exchange. He said that the pause in trading is unacceptable, as he has multiple orders for $20-40 million that he is unable to execute. However, TMX is likely to start trading again at the mentioned time.