By Tony Hallett, 27 October 1998 11:55
NEWS The New York Stock Exchange (NYSE) is blaming a "systems communication problem" for a one hour suspension of trading on Monday afternoon. The NYSE halted trading between 1:16pm and 2:15pm. There were knock-on effects at the American Stock Exchange, the Chicago Board of Trade and the Chicago Mercantile Exchange, markets which do a lot of business using contracts based on NYSE equities. No precise system failure details have been divulged by the NYSE, but reports suggest a faulty switch caused the disruption - the worst since screens seized up in October 1987.
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