MICEX-RTS CEO Released Statement on Trading Disruption
OREANDA-NEWS. December 23, 2011. Dear market participants, clients and business partners,
Please accept my sincere apologies. On December 19, 2011 the stock exchange experienced technical problems during the evening trading session due to the incorrect open interest data display. The exchange halted trading until 23:00 MSK.
Initial investigation of the incident has indicated that the testing held on Saturday with the purpose of test check of clients-stock exchange interaction ended up with incorrect data recovery. After the clearing session at 19:00 MSK the incorrect data leaked into the trading system. Having detected the incident, we halted trading at 19:15 MSK. After the halt, open interest was restored as of 19:15 MSK and at 23:00 MSK the trading was resumed.
We regret this unfortunate and rare disruption to our normal market operations and the inconvenience this caused our customers. We set our goal too high and unfortunately failed to provide the market’s full operational performance on the first day of trading on the new bourse. The root cause of the problem has been detected and eliminated.