Chicago Mercantile Exchange halts trading, sparking public outcry

Trading was halted for about 10 hours before being restored on Friday, sparking a public backlash from derivatives and commodities traders.

The Chicago Mercantile Exchange (CME), the world’s largest financial derivatives exchange, halted trading for about 10 hours from Thursday into Friday, causing an outcry from traders before service was restored.

Trading halted due to a “cooling issue” at the CyrusOne data center in Illinois, a US state, according to an announcement from the CME. Trading was fully restored, and trading for all markets resumed at 1:30 pm UTC on Friday, the CME said in an update. 

Meanwhile, traders voiced their discontent with the critical failure, which locked some users in their positions, prevented others from placing new trades, and halted price discovery.

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