Microsoft outage gums up markets, forces traders to use phones

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In Singapore, traders report some banks’ inability to complete financing deals

In Singapore, traders report some banks’ inability to complete financing deals

[SINGAPORE] Microsoft Outlook went dark on Rita Elkazzi just as a volatile week in markets was coming to an end.

As swings in artificial intelligence stocks and bonds kept traders on edge, the UBS Group execution-sales head for Australia and New Zealand was forced onto phones and alternative channels to communicate.

“It’s been a bit of a disaster and I can’t believe it’s still not resolved,” said Sydney-based Elkazzi. “It means a lot more diligence on ensuring trade recaps et cetera are accurate.”

Elkazzi’s experience is echoed by many after Microsoft suffered one of its most severe disruptions in recent memory.

The tech giant is still struggling to restore access to some of its flagship software hours after an outage began, affecting its Outlook, Teams and Copilot systems.

The difficulties in communicating efficiently have hindered workflows on trading desks, delayed corporate disclosures and even affected e-mail access for Japan’s Ministry of Finance.

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In Singapore, traders reported some banks’ inability to complete financing deals.

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