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. Last Updated: 07/27/2016

Glitch Halts RTS Trading

The Russian Trading System stock exchange stopped trading for almost an hour on Thursday due to internal technical problems, apparently resulting in few financial losses, traders said.

The dollar-priced RTS halted trade on all of its platforms, including its affiliated St. Petersburg stock exchange, at 4:15 p.m.

The FORTS futures exchange resumed trade at 5:05 p.m., but the other trading floors, including the stock exchange's main Classical Market, had to wait until 5:20 p.m. to recommence operations, Zoya Konovkova, a spokeswoman for RTS, said late Thursday.

The stock exchange could not pinpoint the exact reason for Thursday's stoppage, but Konovkova said it had been caused by an internal problem and not by an electricity shortage. Further details will emerge on Friday, she said.

"The positive we take from this is that these mistakes will not happen again," Konovkova said.

The interruption seemed to draw little attention from traders, however, with some commenting that the glitch was hardly noticed on a quiet day of trading. Others suggested the interruption highlighted the RTS's receding presence amid Russia's financial flows compared with its rival, the ruble-priced MICEX, which operates a trade volume at least 10 times greater.

"[The stoppage] would be understandable had the systems been overheated, but today's trading volumes were very small, even in Gazprom shares," said Sergei Orlov, a Gazprom trader with UralSib brokerage.

"Equipment does fail at times, though very rarely," Orlov said.