March 16, 2020 / 9:23 PM / 2 months ago

JPMorgan says it resolved outage in trading platform last week

(Reuters) - JPMorgan Chase & Co (JPM.N) said on Monday it had resolved an outage experienced on Thursday in its U.S. electronic trading platform on the same evening.

The outage was first reported here by Bloomberg News earlier on Monday, citing a note the bank sent to clients.

The report said the outage affected a system that is typically used to process algorithmic trades from hedge funds and decides how and when to send trade requests to different venues.

Another platform that caters to the bank’s wealth management clients also broke down on Thursday afternoon, the report said, adding that both incidents happened due to overwhelming volume.

On Thursday, the Dow Jones index recorded its worst day since 1987 as President Donald Trump’s move to restrict travel from Europe compounded corporate distress in the face of the coronavirus pandemic.

Reporting by Manojna Maddipatla in Bengaluru; Editing by Ramakrishnan M. and Maju Samuel

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