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Nasdaq Nordic tech snafu sparks extensive trading outage

The open of trade on Nasdaq equities bourses in seven countries was delayed by hours on Wednesday after the exchange operator faced a serious issue at a Swedish data centre that houses its servers.

Trading across the group’s stock markets in Sweden, Denmark, Finland, Iceland, Latvia, Estonia and Lithuania did not begin on Wednesday until 1:15pm — 2:10pm CET (12:15pm BST), hours after the typical opening time.

Wednesday’s issues were sparked by an “errant fire extinguisher system” at a data centre operated by a third party in Väsby, Sweden, according to a Nasdaq spokesperson.

Data centre troubles are not entirely uncommon for exchange operators. However, the time it took to switch to a back-up facility may raise eyebrows among member firms keen to trade, as well as regulators.

“We will be closely investigating the issue with the data centre partner to determine the root cause and find a permanent resolution,” the Nasdaq spokesperson said.

Equities markets in affected countries were placid on the day, echoing the performance elsewhere in Europe. The OMX Stockholm 30 gauge was up 0.49 per cent, while the OMX Copenhagen 20 was essentially flat. The pan-European Stoxx 600 benchmark rose 0.31 per cent.

Nasdaq’s woes on Wednesday come two days after a Euronext hiccup caused a delay in the opening print for several closely watched indices, including France’s CAC 40 gauge. Deutsche Börse, the German exchanges operator, faced “serious issues” in March that caused a delay in the opening of equities and futures trading.

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