Home / / Dubai Financial Market system crash halts trading

Dubai Financial Market system crash halts trading

Trading suspended on DFM for short period after systems malfunction on Monday

Dubai Financial Market suffered a systems outage yesterday, that suspended trading for a few minutes.

In a statement issued by the market, DFM said that a minor systems malfunction caused the outage, and resulted in trading being suspended. The DFM, which opened for trading in 2000, operates a trading market for securities, government bonds, investment funds and other financial instruments.

No further details were given, and itp.net’s request for further information had not been answered at time of writing.

On Tuesday of last week, the London Stock Exchange suffered a seven hour system crash, which began at 9.15am, causing traders to miss what should have been a major day of trading after the US government took control of mortgage companies Freddie Mac and Fannie Mae. The exchange had expected around $30 billion worth of trading, but was only able to manage a fraction of that.

The crash was later blamed on network software.

Follow us to get the most comprehensive technology news in UAE delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.

CHANNEL AWARD 2018