Trading at Thai stock exchange hit by technical glitches
06 October 2004 | 3822 views | 0
The Stock Exchange of Thailand (SET) says problems with the trading systems of more than half its member companies forced it to cancel its market trading session yesterday morning.
In a statement, Kittiratt Na-Ranong, president, SET, says trading was postponed because 18 of the exchange's 34 member brokers were unable to send orders to SET's central matching system.
"The front-end systems of 18 brokers, which employed similar standard software, faced technical problems and were unable to work compatibly with the SET's central order matching system," says Na-Ranong.
The trading system used by the affected brokers was not disclosed. The exchange says the companies together with their system provider, were able to fix the problem by the start of the afternoon session.
Kittiratt insists the problem was not due to the SET's central order matching system: "If trading had been open despite the difficulties, matching would not have been efficient and might have negatively affected investors."