Weather halts trading on Abu Dhabi Securities Exchange

Trading was suspended mid-morning on the Abu Dhabi Securities Exchange (ADX) on Wednesday due to communications failures caused by adverse weather conditions in the capital. “They’ve had problems all morning with their systems,” said Khaldoun Jaradat, a trading manager at Brokerage House Securities in Dubai. “Lots of us were unable to communicate properly with the […]

Trading was suspended mid-morning on the Abu Dhabi Securities Exchange (ADX) on Wednesday due to communications failures caused by adverse weather conditions in the capital.

“They’ve had problems all morning with their systems,” said Khaldoun Jaradat, a trading manager at Brokerage House Securities in Dubai.

“Lots of us were unable to communicate properly with the market, so they called us up and said that trading was suspended for the day.”

The last trades were registered on the exchange at around 11.23am before trading ceased for the day, with the capital’s headline index around 0.9 per cent lower at 4,544.35 at the time.

Authorities at the bourse said that all trades registered during the morning session were cancelled, with an official email due to be sent out to brokerage firms later in the day, according to Mr Jaradat.

Officials at the stock exchange did not respond to requests for comment.

Trading on Dubai’s stock exchange was unaffected.

jeverington@thenational.ae

Follow The National’s Business section on Twitter

Source: Business

Leave a Reply

Your email address will not be published. Required fields are marked *