Mexican Stock Exchange Tests Traders’ Patience With Outageby
Suspension of trading is second similar incident this year
Stock exchange cited technical fault for one-hour stoppage
Mexico’s stock exchange halted trading for an hour on Thursday, citing a technical problem, in the second such outage this year.
The Mexican Stock Exchange stopped operations for 59 minutes starting at 11:09 a.m. local time. The benchmark IPC stock index fell 0.1 percent to 46,817.16 as of 12:37 p.m.
After a spate of disruptions in 2012 and 2013, the number of trading outages in Mexico has declined in the past two years. The last time the Mexican exchange saw an outage in its operations was in February, during earnings season, and it lasted for 90 minutes.
“We began to notice the system was not putting our orders through once markets opened, so we stopped trading entirely before the exchange called for an outage,” said Genaro Soto, head equity trader at brokerage Intercam Casa de Bolsa from Mexico City. “We didn’t make any losses but we’re wasting time here. This is time that has been lost."