The Toronto Schlock Exchange provided some entertainment today:
UPDATE 4 – TMX has decided to shut down all markets for the remainder of the day. Trading will not resume today, including market on close. We apologize for the inconvenience. Further updates will be provided.
UPDATE 3 – Please be aware that all TMX markets continue to experience issues. We apologize for the inconvenience. Further updates will be provided.
UPDATE 2 – Please be aware that TMX continues to experience issues on all markets. We apologize for the inconvenience. Further updates will be provided.
I can’t find the original notice or “Update 1” on their site, but they did have notices on Twitter:
UPDATE – All TMX markets, including Montreal Exchange, are experiencing issues with trading, all users are equally impacted and are unable to connect to our Exchanges. We apologize for the inconvenience and continue to investigate. Further updates will be provided.
1 reply 22 retweets 5 likesPlease be aware that TMX equity markets are experiencing issues with trading, all users are equally impacted and are unable to connect to our Exchanges. We apologize for the inconvenience and continue to investigate. Further updates will be provided.
There’s no real explanation been put forward as to why this happened. Maybe somebody unexpectedly traded a marijuana stock. Perhaps they forgot to pay the electric bill. Or maybe – given the season – somebody did spring cleaning:
Click for Big
One way or another, I am advised that the Historical Prices service – where I get the closing quotes – will not be ready for several hours. So I’ll update this post with the statistics tomorrow.
Update, 2018-4-28: The Exchange has released some details. It appears their redundancy wasn’t quite as redundant as one might hope! But don’t worry, Exchange fans! I’m sure they’re still the regulators’ darlings!
TMX Group today provided further details regarding the market interruption that affected trading on Toronto Stock Exchange (TSX), TSX Venture Exchange (TSXV), TSX Alpha Exchange (TSX Alpha) and Montreal Exchange (MX), on Friday, April 27.
The outage, which began at 1:37:25 pm EDT Friday on MX and 1:39:13 pm EDT on TSX, TSXV, and TSX Alpha, was caused by a hardware failure in a central storage appliance of the trading system. This hardware failure impacted both the primary and the redundant components preventing storage failover procedures from engaging. TMX confirms that this incident was not the result of a cybersecurity attack.
TMX began remediation measures Friday afternoon, which included replacing the defective storage module, verifying the integrity of data of all impacted databases and conducting a successful start-up validation of the entire trading enterprise. Given the time of the incident, we could not engage disaster recovery systems in time to ensure an orderly market re-open and closing session.
TMX confirms that all systems are ready for the start of business on Monday, April 30, 2018.
“We apologize to all of our valued clients across Canada’s capital markets and around the world, and to all of TMX Group’s stakeholders for Friday’s interruption in trading,” said Lou Eccleston, Chief Executive Officer of TMX Group. “Our team took immediate action to diagnose the problem and communicate with all of our participants while determining the cause and impacts. Due to the timing and the nature of the issue, we made the difficult but necessary decision to shut down trading for the rest of the day. TMX is committed to applying the lessons learned from this incident to help us prevent such issues from recurring in the future.”
Update, 2018-4-28:
| HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
|||||||
| Index | Mean Current Yield (at bid) |
Median YTW |
Median Average Trading Value |
Median Mod Dur (YTW) |
Issues | Day’s Perf. | Index Value |
| Ratchet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 1.2185 % | 2,925.1 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 1.2185 % | 5,367.4 |
| Floater | 3.42 % | 3.67 % | 89,971 | 18.14 | 4 | 1.2185 % | 3,093.3 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2065 % | 3,155.2 |
| SplitShare | 4.61 % | 4.68 % | 75,317 | 5.07 | 5 | 0.2065 % | 3,768.0 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2065 % | 2,939.9 |
| Perpetual-Premium | 5.57 % | -2.43 % | 78,127 | 0.09 | 11 | 0.1404 % | 2,868.6 |
| Perpetual-Discount | 5.41 % | 5.43 % | 68,263 | 14.77 | 24 | 0.0879 % | 2,937.7 |
| FixedReset | 4.32 % | 4.79 % | 162,930 | 5.71 | 104 | 0.1862 % | 2,511.3 |
| Deemed-Retractible | 5.15 % | 5.62 % | 86,558 | 5.63 | 28 | 0.1749 % | 2,941.5 |
| FloatingReset | 3.07 % | 3.25 % | 33,635 | 3.56 | 11 | 0.2261 % | 2,759.5 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| BAM.PR.B | Floater | 1.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-04-27 Maturity Price : 16.59 Evaluated at bid price : 16.59 Bid-YTW : 3.67 % |
| TD.PF.F | Perpetual-Discount | 1.16 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-04-27 Maturity Price : 23.97 Evaluated at bid price : 24.39 Bid-YTW : 5.03 % |
| BAM.PR.K | Floater | 1.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-04-27 Maturity Price : 16.57 Evaluated at bid price : 16.57 Bid-YTW : 3.67 % |
| PWF.PR.Q | FloatingReset | 1.54 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-04-27 Maturity Price : 21.15 Evaluated at bid price : 21.15 Bid-YTW : 3.29 % |
| PWF.PR.A | Floater | 1.55 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-04-27 Maturity Price : 20.90 Evaluated at bid price : 20.90 Bid-YTW : 2.88 % |
| BAM.PR.X | FixedReset | 3.57 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-04-27 Maturity Price : 17.99 Evaluated at bid price : 17.99 Bid-YTW : 5.17 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| TD.PF.G | FixedReset | 83,000 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-04-30 Maturity Price : 25.00 Evaluated at bid price : 26.30 Bid-YTW : 3.66 % |
| BAM.PR.X | FixedReset | 82,210 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-04-27 Maturity Price : 17.99 Evaluated at bid price : 17.99 Bid-YTW : 5.17 % |
| TD.PF.J | FixedReset | 71,084 | YTW SCENARIO Maturity Type : Call Maturity Date : 2023-04-30 Maturity Price : 25.00 Evaluated at bid price : 25.27 Bid-YTW : 4.60 % |
| TRP.PR.J | FixedReset | 69,500 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-05-31 Maturity Price : 25.00 Evaluated at bid price : 26.37 Bid-YTW : 3.92 % |
| BNS.PR.G | FixedReset | 61,315 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-07-25 Maturity Price : 25.00 Evaluated at bid price : 26.31 Bid-YTW : 3.79 % |
| BAM.PR.Z | FixedReset | 60,600 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-04-27 Maturity Price : 22.93 Evaluated at bid price : 24.30 Bid-YTW : 5.13 % |
| There were 14 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| BMO.PR.T | FixedReset | Quote: 22.79 – 23.07 Spot Rate : 0.2800 Average : 0.1718 YTW SCENARIO |
| BAM.PR.C | Floater | Quote: 16.55 – 16.85 Spot Rate : 0.3000 Average : 0.1938 YTW SCENARIO |
| BNS.PR.A | FloatingReset | Quote: 24.99 – 25.25 Spot Rate : 0.2600 Average : 0.1674 YTW SCENARIO |
| BAM.PR.K | Floater | Quote: 16.57 – 16.81 Spot Rate : 0.2400 Average : 0.1645 YTW SCENARIO |
| TRP.PR.H | FloatingReset | Quote: 16.45 – 16.75 Spot Rate : 0.3000 Average : 0.2333 YTW SCENARIO |
| BMO.PR.Z | Perpetual-Discount | Quote: 24.79 – 24.95 Spot Rate : 0.1600 Average : 0.1237 YTW SCENARIO |
was caused by a hardware failure in a central storage appliance of the trading system. This hardware failure impacted both the primary and the redundant components preventing storage failover procedures from engaging
I cant help but to hear in my head as a reply from Scotty (aka Captain Montgomery Scott)
Stop tradin’ those marijuana stocks, cap’n! The Exchange canna take it!