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UPDATE 2-IntercontinentalExchange says Liffe trading glitch now resolved
June 17, 2014 / 10:22 AM / 3 years ago

UPDATE 2-IntercontinentalExchange says Liffe trading glitch now resolved

(Adds further details, ICE statement)

LONDON, June 17 (Reuters) - IntercontinentalExchange said the technical glitch that twice suspended trading in some money market contracts on the Liffe derivatives market on Tuesday has now been resolved.

Trading in Euribor (Euro Interbank Offered Rate) and Eonia (Euro Overnight Index Average) futures and options contracts on Liffe was delayed first thing on Tuesday, but all markets opened around 1000 GMT.

The glitch then struck a second time, bringing the trading session to a halt from 1050 GMT, according to a service alert. Normal service was resumed around 1415 GMT, a separate alert said.

An ICE spokeswoman said the problem was down to processing orders and the handling of so-called “good ‘til cancelled” (GTC) orders - an order to buy or sell a security at a set price that remains active until the investor decides to cancel it or the trade is executed.

“In the interests of maintaining a fair and orderly market, trading was suspended whilst the issues were resolved, and resumed at 1515 UK time (1415 GMT) today,” the spokeswoman said in an emailed statement.

ICE acquired Liffe in a $11 billion takeover of NYSE Euronext last year. (Reporting by Clare Hutchison; Editing by William Hardy, Greg Mahlich)

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