Last week the Chicago Board of Trade suffered three glitches in its electronic trading system, causing outrage among traders.
The electronic platform went down for an hour during mid-morning trading and then went offline at 1:11 p.m. CST, halting the final minutes of the agricultural trading session.
An outage also occurred on 11 January, and a screen trade was stopped within five minutes of the closing.
The outages also affected exchanges that share CBOT’s electronic platform – Winnipeg Commodity Exchange, the Kansas City Board of Trade and the Minneapolis Grain Exchange.
“The CBOT is committed to maintaining the highest level of confidence in our marketplace,” says Bryan Durkin, COO of CBOT. “We have identified an issue with our trading host which has forced us recently to periodically suspend trading on our e-cbot platform. We have been working vigorously with our service provider, Atos Euronext Market Solutions (AEMS), to implement a solution which we expect will resolve the problem. We are sensitive to the inconveniences this has created for our member firms and customers and we reiterate our commitment to provide seamless trading on each of our trading venues.”