Trading Problems Persist After Soffex Seizure
THIS WEEK'S LEAD STORIES
After opening for business in May 1988, the Swiss Options and Financial Futures Exchange (SOFFEX) ran virtually trouble-free for over a year. But lately the electronic market has been encountering problems resulting from a surge in trading volume.
The increase in average daily transactions from a few thousand to over 25,000 has caught SOFFEX system designers by surprise. On August 7, 8 and 9 the system abruptly shut down when daily volumes surged over 25,000 contracts. During the three-day
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