OT Outage on Canadian Venture Exchange Not Reported to Public

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(for educational purposes only)

I don't recall seeing this before, but please excuse me if it has already been posted.

"Friday January 28, 6:42 pm Eastern Time

Software glitch snags Canadian Venture Exchange

VANCOUVER, Jan 28 (Reuters) - A computer problem forced the newly created Canadian Venture Exchange for small equity firms, known as CDNX, to suspend trading for nearly three hours on Friday, a spokeswoman said.

Trading on the junior equity exchange, created last year by a merger of the Alberta and Vancouver stock exchanges, was halted from 7:02 a.m. PST (15:02 GMT) to 10:00 a.m. PST (18:00 GMT), spokeswoman Pam Whitworth said.

``It was a software-related problem that resulted in some inconsistent order entries so we made the decision to suspend our trading,'' Whitworth told Reuters.

The exchange's computers in Vancouver also handle trading for the Montreal and Winnipeg stock exchanges but their trading did not need to be halted, Whitworth said.

Whitworth said traders were notified of the problem, but no notice of either the trading halt or the resumption was distributed to the general public.

Under the a restructuring of Canadian equity exchanges last year, the Vancouver and Alberta exchanges were merged and received many of the listings of smaller capitalized companies traded on the Montreal and Toronto exchanges.

Whitworth said the exchange has a ``very high percentage of system reliability'', and that Friday's computer problem did not appear to be connected with the merger.

Yahoo "Finance"

-- Rachel Gibson (rgibson@hotmail.com), February 04, 2000

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