SIX Swiss Exchange has started trading on its market following a malfunction that delayed the market opening this morning.
The bourse has not yet provided any detailed information on why trading was affected, saying only that it experienced “a technical problem” that prevented a small number of participants from trading properly this morning.
In light of the technical issues, SIX Swiss Exchange delayed the start of trading of equities and exchange-traded funds to noon CET, derivatives to 12.15 CET and international bonds to 12.30 CET.
A spokesperson for the exchange told theTRADEnews.com that the reason for the delay was to ensure a fair and orderly market environment for all members.
The Zurich-based exchange will upgrade its trading platform this quarter after extending its existing deal with Nasdaq OMX. SIX Swiss Exchange will replace its legacy SWXess system with Nasdaq OMX's new X-stream INET technology, which it claims will offer significant latency and throughput advantages for trading members across asset classes. The X-stream INET platform will have the ability to process orders in below 100 microseconds.