TAIPEI (Taiwan News) —Taiwan’s main foreign exchange—Taipei Forex Inc. (TAIFX)—has resumed regular trading after experiencing abnormalities in pricing quotations for over an hour in morning trading on Tuesday (Feb. 22).

System irregularities interrupted orders for the New Taiwan Dollar from the opening of trading until around 10:30 a.m., per a CNA report. Monitors were unable to display the transaction price and froze.

Forex traders swapped over to manual methods of trading by writing prices down on paper until the digital systems were stable again. Officials from Taiwan's Central Bank said the volume of trading is normal and the market has not been greatly affected.

Central Bank officials said TAIFX notified the bank as soon as the error occurred. They then tried their best to resolve the issue and use backup systems until the cause of the issue was identified and fixed.

By midday on Tuesday, the transaction volume of the exchange had stabilized close to US$500 million (NT$13.93 billion), indicating the market is operating as usual.

TAIFX is one of only two firms that has been granted permission from Taiwan’s central bank to publicly trade foreign currencies. The other licensed forex brokerage is Cosmos Foreign Exchange International.