Eurex wargames pricing derivatives during disruption events

Ukraine war and tech glitches prompt German exchange to set out methods for handling market closures

Disruption has been the dominant theme in Europe’s stock markets in recent years. When the coronavirus spread across the continent in March 2020, there were growing calls for exchanges to be shut down as financial markets went into freefall. On October 19 last year, closing auctions failed in several of Euronext’s stock markets – the result, the exchange operator said, of a glitch within a third-party middleware system. And in February 2022, the invasion of Ukraine prompted suspensions of