Prague Bourse Suffers Two-Hour Trading Pause After Xetra Switch
Czech stock trading was suspended for almost two-hours a day after the Prage bourse switched to a new trading platform in an attempt to attract more investors.
Trading was halted between 10:10 a.m. and 12:05 p.m. in Prague after one of the three connection protocols between the exchange and traders failed, bourse spokesman Jiri Kovarik said by phone today. The market operator is investigating the outage and can’t entirely rule out a repetition of the issue, he said.
The Xetra platform was adopted to ease access for foreign investors and allow Czech market participants to trade in other countries using the same system, including Germany and Austria, the Prague Stock Exchange said in a statement on its website after the switch on Nov. 30. The PX (PX) equity index fell 0.3 percent to 944.33 in Prague today, while data on turnover hasn’t been published yet.
“The new system is generally more sophisticated and it’s certainly a step in the right direction,” Jan Pavlik, head of trading at broker Wood & Co. in Prague, said by telephone. “The outage didn’t have a major impact on us and our clients.”
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