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JSE glitch was our fault, says MTN
| Rudolph Muller | July 29, 2010 | No comments |
Rudolph Muller
Rudolph Muller is the editor at MyBroadband and covers telecoms and broadband news. Rudolph comes from an academic background, but left the University of...
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Multiple transmission failures on MTN network halted trading.
Mobile operator MTN has accepted the blame for the technical glitches that halted equities trading in the Johannesburg securities Exchange for close to six hours on Tuesday.
“MTN Business and the JSE have determined that on July 27, multiple transmission failures across the MTN network, combined with an inability to support multi-cast public trading data on a path in the network effectively at the fourth level of redundancy, caused the multi-cast public data not to reach the JSE with the result that trade could not take place in the JSE’s cash equities market.
“MTN Business has taken remedial action to resolve the technical issue and will take further action in the following weeks based on its analysis of the cause, including an enhanced monitoring system,” a JSE statement said.
Tuesday’s glitch was the second in less than three weeks. Hardly 30 minutes after the bourse opened traders were forced to stop trading. Trading was restarted at 15h20, just ten minutes before the opening bell at Wall Street., prompting the JSE to extend trading by an hour.
MTN has a contract with the JSE to provide the bourse operator with network service consisting of multiple network links. The networks are responsible for carrying trading data, according to the statement.
When trading was suspended on July 12 because of a glitch, MTN denied it was responsible. Both the JSE and the mobile operator have yet to identify the cause of the July 12 problem and currently believe the two incidents are unrelated. Experts have been hired to investigate and findings will be communicated, the statement added.
JSE downtime and MTN << comments and views
