Refinitiv Suffers Another Outage
Posted by Colin Lambert. Last updated: June 23, 2021
Refinitiv has suffered another outage on its Eikon platform, the second such event in as many months – the outage affected FXT, the firm’s FX trading venue, as well as its FXall platform and last over six hours according to market sources. The issue was, as was the case in April, trouble logging in – users that were logged in still had access to trading services.
In a note seen by The Full FX Refinitiv apologises for the outage and says that services were restored at 7.51GMT after support teams restarted the company’s servers. The note adds that the company is “investigating the root cause and ongoing actions we need to take to mitigate recurrence”.
The outage has caused anger amongst the firm’s customers, coming as it does after a similar five hour outage in early April. “Once you can accept, but twice? That’s a serious problem,” says a source at an Asian customer of Refinitiv. “We were assured last time that the cause was being investigated so why will it be different this time?”
Another source claims there was a similar, much shorter duration outage last week, which was blamed upon an update to the system architecture, and adds, “This is happening too often – this is a vital service for the market and it’s unacceptable. Our firm is now going to prioritise other sources for its data and trading – you can’t just turn off a major provider like this but you can downgrade its role.”