Toronto Stock Exchange

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This is a developing story. Check back for updates.

The Toronto Stock Exchange has halted trading due to a technical issue, according to the TMX Group, owner of the exchange.

The TSX Composite Index, the exchange’s benchmark, was down 1.9% before trading was halted as coronavirus fears cause global markets to plunge on above-average volume.

The trading volume on the Toronto Stock Exchange had already exceeded the 30-day average before trading was halted. FactSet data shows more than 232 million shares changed hands on Thursday, topping a 30-day average of 231.1 million.

CNBC has contacted TMX Group for comment on the issue, but a spokesperson was not immediately available.

“TMX continues to investigate the problem with order entry on TSX, TSXV and Alpha. We apologize for the inconvenience. Further updates will be provided,” TMX tweeted at 2:46 p.m. ET. 

“Clients are currently unable to enter, modify or cancel open orders on TSX, TSXV and Alpha,” the group added in a subsequent tweet at 2:10 p.m. “TMX continues to investigate the problem with order entry. Prior to re-opening, we will provide sufficient time in a pre-open state for Participants to manage their orders.”

The Montreal Exchange, a Canadian derivatives exchange, said at 2:18 p.m. ET that it would “halt trading on all Equity Derivative Instruments and place all instruments in a pre opening state.”

— CNBC’s Chris Hayes and Fred Imbert contributed reporting.

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