ION, the financial trading services group hit by a ransomware attack last week, started to bring clients back on to its cleared derivatives platform overnight, a person familiar with the matter told Reuters on Tuesday.
A market participant with knowledge of the situation said thousands of firms could have been affected.
The FIA said the situation was improving after some exchanges and clearing houses offered extensions to allow affected firms to meet clearing and reporting deadlines. Clearing is the process of ensuring trades have gone through and the relevant parties are fully settled up. "We have been told that the need for clearing extensions has diminished and exchanges are reporting business as usual," an FIA spokesperson said, who added they were not aware of any serious impact on markets.The attack on ION had an impact on market participants. Sources with knowledge of the situation said brokers had to resort to outdated methods of recording trades, including entering them manually in spreadsheets during the ION outage.
Among the many ION clients whose operations were likely to have been affected by the attack and ensuing disruption were ABN Amro Clearing
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