The failure on Friday afternoon halted all trading in stocks, options and derivatives on TMX's markets.
Toronto's main stock exchange operator, TMX Group Ltd, chose to shut down the market after the technical issues came into play and through several Tweets on Twitter, said that all those participating in the market on Friday were "equally impacted and are unable to connect to our exchanges".
"TMX has made a decision to shut down all markets for the remainder of the day". We apologize for the inconvenience. "We expect to resume trading at regular hours on Monday, April 30, 2018". TMX Group sent out an initial tweet warning of the problem shortly after 2 p.m. "Trading will not resume today, including market on close", TMX Group said in a statement on its website.
More than 177 million shares were traded on the Toronto Stock Exchange before trading was shut down, according to FactSet. TMX Group operates the TSX, TSX Venture Exchange, Montreal Exchange and TSX Alpha Exchange.
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Ontario Securities Commission said it was in direct contact with the Toronto Exchange Market, and that "We continue to monitor and watch the situation closely". The five-largest stocks traded in the Toronto Stock Exchange are the Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Suncor Energy and Canadian National Railway.
Traders turned to rival exchanges to place orders, including Nasdaq Inc.
The S&P/TSX Index was up 31 points or 0.2 per cent at 1:39 p.m., the last time Friday's trading volume was updated on all charts.