Swiss stock exchange is investigating worst outage in a decade

THE SIX Swiss Exchange is investigating its worst outage in more than a decade and will release results in the coming days. It has ruled out a hack.

“It was a technical issue,” said Juerg Schneider, the exchange’s head of media relations, without giving details about the specific nature of the problem. We can “definitely rule out that it was a hack,” he said.

A post-mortem will be released in a couple of days.

The issue adds to a string of glitches that have bedeviled global stock markets, including the New York Stock Exchange, in recent years and have sparked a renewed focus from regulators globally on what protocol to follow in these cases.

In October 2020, trading in all stocks and derivatives on Euronext markets shut down for three hours, the same year the German operator Deutsche Boerse was hit by two major outages.

Trading in Zurich was interrupted shortly after 11 am local time on Tuesday (Jun 13) and didn’t resume until 2 pm.

The bourse is ensuring “this doesn’t happen again, I am sure internally there will be measures to try to avoid this in the future,” Schneider said. BLOOMBERG