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TMX Provides Update on Market Outage and Confirms Friday Market Opening

February 27, 2020

February 27, 2020 (TORONTO) – TMX today experienced a market interruption that affected trading on our equities markets: Toronto Stock Exchange (TSX), TSX Venture Exchange (TSXV) and TSX Alpha Exchange (Alpha).

The issue was first identified at approximately 1:30 pm EST as TSX Alpha clients reported difficulty in receiving messages from the Exchange. As TMX initiated an investigation, the order entry process across TSX and TSXV began to fail as well. Trading on TSX Alpha was halted at 1:51 pm EST and trading on both TSX and TSXV was halted at 1:54 pm EST. As a result of the outage on TMX equities markets, Montreal Exchange halted trading on all Equity Derivative Instruments at 1:59 pm EST.

TMX's subsequent attempts to restart the trading system encountered further complications that could not be resolved in a timely manner during trading hours today. Due to the nature of the issue, TMX was unable to engage disaster recovery systems in time to ensure an orderly market re-open and closing session.

The interruption was caused by a system capacity issue within the messaging technology component of TMX's trading engine. To address this issue and in preparation for Friday's trading session, TMX has undertaken necessary measures to mitigate the risk of recurrence, including significantly increasing the capacity of this component. TMX confirms that this incident was not the result of a cybersecurity attack.

TMX also confirms that all systems are ready for the start of business on Friday, February 28, 2020.

 

About TMX Group (TSX:X)

TMX Group operates global markets, and builds digital communities and analytic solutions that facilitate the funding, growth and success of businesses, traders and investors. TMX Group's key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, and Trayport which provide listing markets, trading markets, clearing facilities, depository services, technology solutions, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across North America (Montréal, Calgary, Vancouver and New York), as well as in key international markets including London and Singapore. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter: @TMXGroup.

 

For more information, please contact:

Shane Quinn
Head of Communications and Public Affairs
TMX Group
416-947-4609
shane.quinn@tmx.com

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