The MICEX exchange is Russia’s largest, with an annual trading volume reaching 1.9 trillion dollars in 2006.
Photo: Yury Martyanov
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MICEX Shuts Down 3rd Time in Past 8 Days
The MICEX stock exchange was temporarily shut down last Friday in the third “technical failure” at its trading floors over the past two weeks. This time trading was paralyzed by a power shortage. Market watches say that the new failure did not affect the traders but hit the bourse’s reputation.
The MICEX stopped trading in all markets at 10.31 am, making this the third time in eight days when trading had been stopped due to a technical failure. Trading was fully restored at 12.40 am.
On April 19, the MICEX closed three minutes earlier due to a glitch in the telephone network. On April 12, trading at the MICEX currency exchange was interrupted because of record-high trading activity.
The MICEX exchange is Russia’s largest, with an annual trading volume reaching 1.9 trillion dollars in 2006 to double the previous year’s volume. Trading on the MICEX passed 625 billion dollars in the first quarter of 2007.
Trading on Friday stopped after an electricity shortage hit the system, according to Nikolay Egorov, MICEX Vice-President. Officials at the bourse said they would take measures to prevent similar problems in the future. Mr. Egorov reported that the MICEX had sent an inquiry to Moscow’s city electricity grid, adding that the exchange intended to improve its protection against power shortages.
www.kommersant.com
All the Article in Russian as of Apr. 23, 2007
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