Tech woes cause early close for Toronto Stock Market

Daniel Fowler
April 28, 2018

The first tweet was sent out around 2 p.m., with two hours remaining in the normal trading day.

"In true Canadian fashion, most traders declared "beer o'clock" when they saw that the TMX was closed", said Karl Schamotta, director of global product and market strategy at Cambridge Global Payments.

TMX today experienced an internal technical issue affecting service on Toronto Stock Exchange (TSX), TSX Venture Exchange (TSXV), TSX Alpha Exchange (Alpha) and Montreal Exchange (MX), beginning at 1:37:25 pm on MX and 1:39:13 pm EDT on TSX, TSX V, and Alpha. Fewer than 575 million Canadian shares traded Friday, the slowest session since July 24, according to data compiled by Bloomberg. The NYSE said Wednesday afternoon that and Alphabet wouldn't trade for the rest of the day, citing a technical problem.

It will be hard to determine the impact on investors, as some dealers and individuals could have switched their buy and sell orders to other markets that interlist Canadian stocks.

Greece: Reforms needed beyond bailout, say Eurozone ministers
They therefore seek ways to make it worth Greece's while to be fiscally prudent as long as possible. Some of them, like the liberalization of the energy market, or privatization, are hard .

The U.S. -listed shares of several Canada-based firms continued trading even as their Toronto-listed securities were idled by the outage.

The outage was not due to "a hack", a Toronto Stock Exchange spokesman said.

Before trading stopped, the S&P/TSX Composite Index was up 0.2 percent to 15,668.93, on track for a third straight gain and its highest close since March 21. We have identified the issue and are working to rectify. Last year's earnings per share was $1.11, while now analysts expect change of 19.82 % up from current $1.33 earnings per share.

Other reports by

Discuss This Article