The operator of the Toronto Stock Exchange and the Montreal Exchange says a hack is not responsible for an unexpected shutdown on Friday, April 27.
In a statement Saturday, TMX says the outage was caused by a "hardware failure in a central storage appliance".
The statement did not identify the vendor of the equipment that failed, though it said the outage was not the result of a cyber attack.
The company replaced a defective storage module, verified the integrity of data of all impacted databases and conducted a successful start-up validation of the entire trading system, TMX said.
Because of the timing of the failure Friday, TMX Group stated there wasn't time to ensure an orderly market re-open and closing that day.
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TMX Group said it will continue to update users as they investigate the issue. We expect to resume trading at regular hours on Monday, April 30, 2018.
Canada's stock market, the world's sixth-largest, abruptly shut down on Friday after an outage cut market participants off the main exchanges but will resume trading on Monday after resolving "internal technical issues", the exchange operator said.
"TMX is committed to applying the lessons learned from this incident to help us prevent such issues from recurring in the future".
Besides the Toronto Stock Exchange, which primarily handles equities of some of Canada's biggest companies, the company also operates the TSX Venture Exchange, the TSX Alpha Exchange and the Montreal Exchange, which is Canada's largest market for trading derivatives. TMX Group is headquartered in Toronto and operates offices across North America (Montréal, Calgary, Vancouver and New York), as well as in key worldwide markets including London, Beijing and Singapore.