Midland Computer Problems Force Week-Long Interbank Trading Halt
BANKS
Interbank traders in London returning after the Easter vacation were surprised to find the equivalent of a "Closed for Renovations" sign on their Reuters pages for Midland Global Markets for the whole of that week.
The bank stopped quoting its interbank prices from April 14 to 17 because of glitches in its new Treats front- and back-office trading system installed over the holiday weekend, MGM officials confirm. And last week, although back in the interbank market, MGM was restricting its trading
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