Thomson Reuters Forex Trading Platform Down

Thomson Reuters Corp.'s (TRI) electronic trading platform, one of the two key systems used by currency traders around the world, experienced an outage Tuesday, according to several market participants.

The trading system, named Reuters 3000, went out at 3:13 p.m. EDT (1913 GMT), said Michael Lavina, head of trading at Faros Trading, and has hadn't come back online as of 4:08 p.m EDT.

A representative for Thomson Reuters wasn't immediately available for comment.

During the outage, traders at Bank of New York Mellon Corp. (BK) said they were routing their trades through EBS, the other major currency platform.

In the most recent data available, the electronic currencies-dealing system run by Thomson Reuters consolidated its lead ahead over main rival EBS in July, with its average daily volume outstripping those of its main rival for the 10th straight month.

In July, Thomson Reuters said it had handled an average of $130 billion of trading volumes per day, a 10% fall from June and a 14% drop from the same time last year. But flows were still higher than those on EBS, which saw an average of $106.7 billion per day in the same month--22% below the previous month and some 41% lower on the year.

--Jacob Bunge contributed to this article

Write to Ira Iosebashvili at [e-mail] and Nicole Hong at [e-mail]

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