HUMAN ERROR BLAMED FOR DATA PROBLEMS AT SWEDISH EXCHANGE
STOCKHOLM - Swedish exchange the Nordic Growth Market (NGM) suspended its trading platform between 10:45 and 12:00 on February 19 due to data problems caused by human error the evening before. The mistake the previous evening deleted all instrument data and order book changes made between December 4 and February 19, when the blackout occurred. Trading was suspended after firms found themselves unable to quote for derivatives contracts.
Pre-trading was brought back online by 11:40 and the call-auction began at 11:59, just before trading for all submarkets restarted at midday. However, some firms continued to have quoting problems after trading resumed. NGM said it had taken the opportunity to add precautions, improve its routines and provide better internal information.
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