The SIX Swiss Exchange experienced its worst outage since 2012 with trading halted for three hours on Tuesday.
Interruptions to equities and options trading began at 11am Central European Time (CET) before being halted altogether until 2pm.
SIX noted the cause of the outage had been found but a full diagnosis would take days to complete.
A spokesperson for SIX Swiss Exchange told ETF Stream: “We had promptly notified market participants and regulators about the situation.
“This has been the first time since Friday 13 February 2012 that trading on SIX Swiss Exchange was affected to such a degree, making it still and probably the most stable exchange in Europe.”
Nasdaq’s Nordic venues suffered an outage last November and Euronext’s exchanges experienced a three-hour interruption in October, preventing market participants from trading at their closing auctions.
The blackout at Switzerland’s main lit venue is the first of its kind at a major European exchange since a group of exchange providers proposed to bid to operate a consolidated tape for equities and ETFs in Europe in February.
The consolidated tape is viewed by many industry members as the key infrastructure needed to create a unified liquidity picture as part of the Capital Markets Union – and to close the trading volume gap with the US.
The joint venture of 14 exchanges proposing to bid include providers such as Euronext, Deutsche Boerse, SIX Swiss and Nasdaq.