Technical issues have delayed the start of trading on the European cash markets operated by NYSE Euronext for the second consecutive day.
According to a NYSE Euronext spokesperson, the exchange experienced “latencies on the cash market” this morning, which led it to halt trading in a number of instruments including blue-chip stocks on the Amsterdam and Brussels exchanges at 08.07 BST. The disruption also resulted in the inability to trade options contracts based on the AEX or BEL 20.
Trading in French and Portuguese stocks were not affected. Pan-European multilateral trading facility NYSE Arca Europe and dark pool SmartPool also traded as normal. Trading resumed in the affected segments at 10.00 BST.
According to a statement from the exchange group, Tuesday's issue “is related to the delayed opening experience on Monday 20 June”.
On 20 June, a software problem knocked out trading on NYSE Euronext's cash markets, delaying the pre-opening phase for trading of European equities, bonds and exchange-traded funds until 09.00 BST. As a result of the problems with its cash equities markets, NYSE Euronext was also forced to temporarily halt in trading for its warrants and certificates markets on Monday.
According to a statement from the exchange on the afternoon of 20 June, the problem related to the start-up sequence of the software applications used for each of the affected markets. Members were unable to enter, amend or cancel orders even if they had a live connection to the exchange group's common customer gateways.
The issue also affected the calculation of indices for the European equity markets operated by NYSE Euronext, which led to a delay in the opening of Paris, Amsterdam and Brussels equity options contracts on NYSE Liffe, the group's derivatives exchange. As today, SmartPool and NYSE Arca Europe were unaffected by Monday's outage.
According to figures from BATS Europe, NYSE Euronext had 61.93% of CAC 40 trading yesterday, 62.31% of AEX trading and 62.62% of BEL 20 trading on Monday. Chi-X Europe, had 21.89%, 24.95% and 22.46% in each market respectively.
NYSE Euronext accounted for 62.1% of CAC 40 liquidity, 50.4% of Belgian blue-chip liquidity and 58.28% of AEX trading in May. Chi-X Europe was between 20-23% of market share in each country, according to Thomson Reuters Equity Market Share Reporter.