P.M. BRIEFING : Outage Delays Chicago Trading
Trading was suspended for a time today at the Chicago Board of Trade after an electrical problem cut power to most of the 40-story downtown building, officials said.
The power failure hit about two hours before the first trading of the day was scheduled to begin at 7:20 a.m. CDT in financial contracts such as Treasury bonds, said Frederick Grede, the exchange’s vice president of administration.
Most of the building’s electrical systems were knocked out of commission, including electronic trading mechanisms, phones and elevators, Grede said.
Commonwealth Edison Co. blamed the failure on a possible electrical cable malfunction and had restored power to all but three floors by 7:40 a.m., said utility spokesman Bill Harrah.
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