Technical glitch interrupts trading on Turkish bourse two days in a row

ISTANBUL

Trading at the exchange also stopped on July 22 between 9:53 a.m. and 10:55 a.m. as an undisclosed technical problem thwarted transactions for 62 minutes.

Turkey’s main stock exchange Borsa Istanbul (BİST) has been hit by a technical glitch for the second time in two days, prompting an inquiry by the country's capital markets watchdog.

A technical breakdown caused the session to start at 9:50 a.m., one day after trading at the exchange was stopped due to technical difficulties.

“Share market auction transactions will start at 9:50 due to technical difficulties. Current orders and transactions will remain valid," a statement from BİST read.

After the technical glitch was solved, the exchange’s main index, BİST 100, opened the day with a 0.42 percent rise at 82,851 points, after closing the previous day almost flat with a 0.32-percent increase at 82,530 points.

A technical glitch interrupted trading on the BIST for 62 minutes on July 22, as a software issue caused by an order correction message sent from an investor damaged BIST’s processing system.

The country’s capital markets watchdog released a statement announcing that it would launch an inquiry into the matter, as persistent technical problems could have consequences for the Turkish market.

“The basis of the stock exchange is for trading to be uninterrupted. The outbreak of frequent malfunctions at unexpected times can damage healthy price creation as well deter investors,” according to a statement by the Capital Markets Board (SPK).