On Wednesday morning the alarm was raised that a fire was spreading in the Stockholm Stock Exchange’s server hall in Upplands Väsby. It proved to be a false alarm but the sprinklers had been triggered, equipment damaged and Lauri Rosendahl, CEO of the Stockholm Exchange and Nasdaq Nordics, decided to delay opening.
The delay lasted over five hours with trading opening at 2.10pm as it took a long time to get all the fund commissions, banks and traders online once the reserve was up and running.
Lauri Rosendahl has apologised for the long wait and has said that if this were to happen again it must be resolved much more quickly. Damage continued to be assessed through the night.
The Financial Supervisory Authority (FSA) demands that Nasdaq has arrangements for operational continuity so it can re-start trading within two hours in the case of a disruption, and the watchdog now wants to know why this did not happen.
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