The City was in meltdown this morning as the Bloomberg Professional outage continued with no sign of being fixed.
Deals were expected to be delayed and even the Treasury has postponed planned bill tenders worth £3bn after the trading terminal went offline, effectively locking traders out of the markets.
A statement issued by the Treasury's Debt Management Office this morning said:
Due to ongoing technical issues with the third party platform supplier, the DMO is announcing that this morning's UK Treasury Bill tenders will be postponed, with a further update announcement to be made at 12.00 noon today, and that any bids already submitted will be deemed null and void.
One trader told City A.M bond deals that were due to be priced today were being delayed.
He added: “The City is on hold – no one is doing anything.”
A spokeswoman for Bloomberg said engineers were “working as hard as they can to fix it as quickly as possible”.
But she was unable to say how long it would take or what the possible cause could be.