High Trading Volumes and Technical Glitch Cause Temporary Outages at Charles Schwab

Charles Schwab & Co. reported temporary outages on its trading platform due to high trading volumes and a technical problem with a key vendor. The issues led to longer log-on wait times for clients on a busy trading day. The problems were resolved and the platforms are now fully operational.

Charles Schwab & Co. faced temporary outages on its trading platform on Monday, attributing the disruptions to high trading volumes and a technical issue with a key vendor. This incident occurred as clients hurried to manage an extensive market selloff.

A company spokesman did not specify the technical issue or identify the vendor, but mentioned that higher volumes and the vendor's problem affected the system, causing longer log-on wait times and extended call durations. The spokesman reassured that the issues were resolved and their platforms are now fully functional.

(With inputs from agencies.)