Moscow exchange explained the reason for the stop in trading


Difficulties associated with software failure in the servers access to the derivatives market, announced the press service of the Moscow exchange. Exchange updates the operating system to access servers in the derivatives market, this project is designed for five weeks, has now ended the fourth week, said the managing Director of communications, Moscow exchange, Andrey Braginsky. One of the installed under this program updates triggered by mistake.

Thus, according to him, during testing all worked fine. Incorrect work of the program “emerged only today during the auction”. At the same trading and clearing system itself and the network equipment worked in a regular mode, the message says the Moscow exchange.

Difficulties with the Internet connection of customers to the derivatives market began on Monday, April 25, with the opening of trading in the derivatives market, and later difficulties with the connection to the derivatives market began to emerge among the participants and with other types of connections. At 11:20 Moscow exchange suspended trading on the derivatives market, to resolve problems with the connection. “Trading has not been halted immediately, but only when participants began to receive signals that the system is not working,” said Braginsky. According to him, the exchange noticed that some brokers have been experiencing problems with connecting to the site, and therefore took the decision to suspend.

As stated in the official report of the Moscow exchange, suspension of trading gave the opportunity to quickly restart the access servers and validate connections: “since 12:00 Moscow time trading system became available for withdrawal applications”. Resume trading the stock exchange was only from the second attempt: resumption of trading at first it was scheduled for 12:10, however the auction started at 12:15. Trading on futures market not carried out for 55 minutes.

Previously, market participants told me that during the weekend, the exchange conducted a test of a new Protocol that enables a more quickly process the order. According to a top Manager of a large broker, on Saturday, April 23, the exchange invites market participants to test the new Protocol TWIME. Were conducted load testing and functional testing Protocol. Participated several large brokers. This morning this Protocol was to earn,” — said the financier.

The Director of the office manual trading systems investment holding “Finam” Dmitry Antsiferov suggested that given on Saturday, the testing Protocol could cause the spot futures trading. He recalled that almost all the latest failures on the Moscow stock exchange has occurred due to testing new products, resulting in system-errors. In particular, 21 September 2015 on the stock exchange has failed due to a software error when reading the kernel configuration of the trading system, not detected during the tests and shown after the market open.

In a press-service of the Moscow exchange confirmed that the weekend was conducted routine testing a new binary Protocol TWIME and testing trading platforms urgent and currency markets, however, stated that the failure occurred is not associated with this.

The Director of the Department of active operations “Veles the Capital” Evgenie Shilenkov says that clients are not able to trade in the morning. “It is clear that this situation doesn’t make anyone happy, especially those who actively trades futures,” he says. According to the financier, if the spot futures market the currency market or the stock market occur strong movements, the players will not be able to buy futures. “At the time of opening of futures market a futures on an asset already sold at the new price, for the participants this means lost profits and / or losses. It is clear that the exchange will not compensate these losses,” explains Silenkov.

President — Chairman of the Board of “Finam” Vladislav Kochetkov said that this time all the clients without loss. “On the futures market the bulk of transactions taking place in the moment of its opening or late trading day. At a time when the market is up, not much activity there, so there were no major losses,” he said.