TSX to reopen Monday after 'hardware failure' caused outage on Friday

Group sign the company that runs the Toronto Stock Exchange, is seen in Toronto Ontario Canada

Group sign the company that runs the Toronto Stock Exchange, is seen in Toronto Ontario Canada

For example, BlackBerry Ltd. shares on the New York Stock Exchange closed at US$10.45, down 10 cents, at the normal trading time of 4 p.m., with below-average volume of about 2.1 million traded, according to NYSE data.

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.

TMX also confirmed the issue wasn't caused by a cybersecurity attack. Trading will not resume today, including market on close.

Besides the Toronto Stock Exchange, which primarily handles equities of some of Canada's biggest companies, the company also operates the TSX Venture Exchange, the TSX Alpha Exchange and the Montreal Exchange, which is Canada's largest market for trading derivatives.

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

Remediation efforts started Friday afternoon and the defective device was replaced and tested, TMX Group said. Given the time of the incident, we could not engage disaster recovery systems in time to ensure an orderly market re-open and closing session.

The operator said later Friday that all trading would be suspended for the rest of Friday as crews were unable to solve the outage. Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, Trayport and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, technology solutions, data products and other services to the global financial community.

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