The recent global tech outage had a significant impact on the brokerage industry, where any delays can potentially result in financial losses for clients. Merrill Edge, a subsidiary of Bank of America, reported experiencing 'limited impacts' on their online trading platform as a consequence of the outage. However, they have assured that these issues have been largely resolved.
Another major player in the industry, Charles Schwab, also acknowledged the ongoing problems caused by the outage. In a statement released, they attributed the issues to a third-party, global, industry-wide problem. The company mentioned that certain online functionalities may be intermittently slow or unavailable as a result of this issue. They further stated that they are actively monitoring the situation to address any arising concerns.
