(Corrects company name in third paragraph.)
Mexico’s five-hour stock trading stoppage yesterday was caused partly by a connection failure with a component bought from a unit of NYSE Euronext, said Luis Tellez, chief executive officer of the country’s exchange.
The exchange had to halt transactions from 8:54 a.m. to 1:52 p.m. Mexico City time yesterday to resolve a communication error, Tellez told reporters today at the stock exchange. NYSE Euronext advised the exchange to reprocess all the data from the opening hour of trading, according to Tellez.
The trading stoppage was at least the fifth since mid-April and follows Bolsa Mexicana de Valores SAB’s installation of an internally-developed processing engine in 2012 to increase transaction speeds.
“What the Bolsa has developed hasn’t caused failures,” Tellez said. “It’s the auxiliary pieces that we have purchased.”
IntercontinentalExchange Group Inc. bought NYSE Euronext this month, and yesterday said it plans to sell technology businesses owned by the acquired company.
Eric Ryan, NYSE spokesman, said he couldn’t immediately comment.
To contact the reporter on this story: Jonathan Levin in Mexico City at firstname.lastname@example.org
To contact the editor responsible for this story: David Papadopoulos at email@example.com