Wall Street just delivered a sharp lesson on the cost of caution — and not even a rare trading outage was able to break the market’s stride. https://t.co/tz1UtvMptb ...

Core Insights - A significant technical outage has disrupted trading operations at CME Group, affecting various platforms including foreign exchange, commodities, Treasuries, and equity futures [1][2]. Group 1: Outage Details - The outage was caused by a critical cooling system failure at a third-party facility, specifically at CyrusOne data centers, which are essential for CME's infrastructure [2][3]. - CME confirmed the cooling issue and stated that technical support teams are working to resolve the situation promptly [3]. Group 2: Impact on Trading - The halt in trading began just before 0300 GMT and affects all futures and options contracts on the Globex platform, leading to a cessation of price updates for major global benchmarks [4]. - The EBS foreign exchange platform, crucial for trading major currency pairs, is also offline, although traders have managed to execute trades on alternative venues [4]. Group 3: Market Context - The outage occurred on a truncated trading day following the Thanksgiving holiday, which was expected to have thin liquidity, complicating the situation for traders managing positions [5]. - Despite the outage, pre-market trading showed positive movement, with SPDR S&P 500 ETF Trust (SPY) up 0.29% at $681.66 and Invesco QQQ Trust ETF (QQQ) up 0.33% to $616.31 [5].