Nasdaq Reviews Nordic Shutdown as Regulators Question Backups

Nasdaq Inc. is reviewing its systems to avoid a repeat of an hours-long shutdown in trading across the Nordic and Baltic markets, which prompted regulators to question its preparedness and forced Sweden to postpone a bond auction. Trading went down Wednesday morning across the region and didn’t start up until shortly after 2 p.m. after an “errant fire extinguisher system” caused “connectivity issues” at a third-party data center in Vasby, a Stockholm suburb, according to Nasdaq. Finland’s Financial Supervisory Authority will investigate why it took so long for Nasdaq to start up its backup system, according to Maria Rekola, market supervisor at the regulator in Helsinki.