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Stock Exchange crippled as technical hitch halts trading

Posted By admin On November 26, 2009 @ 10:41 am In Money Watch | Comments Disabled

London Evening Standard [1]
Thursday, November 26, 2009

Trading ground to a halt on the London Stock Exchange (LSE) for several hours today after its electronic trading system was hit by a major technical hitch.

Shortly after 10.30 this morning the exchange announced all FTSE 100 and order-driven securities had been placed in auction.

This meant traders could post their buy and sell orders for particular shares but could not actually execute them.


Stock Exchange crippled as technical hitch halts trading 251109banner [2]

Rival trading systems like Chi-X and BATS were unable to pick up the business lost on the exchange because they rely on the LSE to set share prices.

Dealers said they were left sitting on their hands unable to trade in all but the smallest stocks.

The LSE said the crisis also meant real-time indices including the FTSE 100 indicator of leading shares couldn’t be properly updated.

The exchange said it had been hit by “connectivity” problems which meant not all brokers were able to link into its electronic order book.

Full story here. [1]

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URLs in this post:

[1] London Evening Standard: http://www.thisislondon.co.uk/standard-business/article-23775611-stock-exchange-crippled-as-technical-hitch-halts-trading.do

[2] Image: http://www.efoodsdirect.com/holidaySpecial.html?aid=14&adid=14

[3] London Stock Exchange trading hit by computer crash: http://www.prisonplanet.com/london-stock-exchange-trading-hit-by-computer-crash.html

[4] Another Exchange Halts Levered OTC Gold And Silver Trading: http://www.prisonplanet.com/another-exchange-halts-levered-otc-gold-and-silver-trading.html

[5] “Technical Glitch” Takes Down Australian Stock Exchange: http://www.prisonplanet.com/technical-glitch-takes-down-australian-stock-exchange.html

[6] Russia Gives Banks Cash, Halts Stock Trading to Head Off Crisis: http://www.prisonplanet.com/russia-gives-banks-cash-halts-stock-trading-to-head-off-crisis.html

[7] Trading halted on Egyptian stock exchange after market plunges 6.25% — in 15 minutes: http://www.prisonplanet.com/trading-halted-on-egyptian-stock-exchange-after-market-plunges-6-25-in-15-minutes.html

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