According to CNBC, the TSX Composite Index was listed at 1.9% in the red and had already exceeded its 30-day average trading volume before trading came to a complete stop. Canadian news outlet CP24 reported that the TSX Venture Exchange (TSXV) was down by 4.6% before the technical issue arose.
The TMX Group - the owner of the exchange - explained via Twitter that the matter is being investigated by officials and noted that clients are not able to "enter, modify or cancel open orders on TSX, TSXV and Alpha." As a result of the issue, the group further indicated that "the markets will remain in a Pre-Open state until further notice."
— TMX Group (@TMXGroup) February 27, 2020
Following the declaration by the TMX Group, Montreal Exchange, a Canadian derivatives exchange, announced that it would "halt trading on all Equity Derivative Instruments and place all instruments in a pre-opening state."
In its latest update on the matter, TMX Group announced that the "technical halt would remain in effect for the remainder day."
BNN Bloomberg reported that both the TSX and TSXV were shuttered at roughly 1:54 p.m. local time, and that Alpha was brought to a pause some three minutes prior.
