Stock Exchange back to normal after outage

LSE takes stock after glitch halts trading

Post a comment
Print

By Julian Goldsmith, 9 September 2008 12:25

NEWS

The London Stock Exchange is back to normal after an outage yesterday that ceased trading for the longest period in eight years.

The exchange said that the outage did not mean that its electronic trading system was in any way vulnerable to increased trading volumes, as some reports had suggested.

silicon.com Financial Services

Get the latest financial services news straight to your inbox. Sign up for the FS newsletter today!

According to a spokeswoman from the exchange, the outage occurred after 45 minutes of normal operation at 09:15(BST) yesterday.

The outage was not fixed until 16:30(BST) yesterday afternoon, effectively wiping a full day's trading from the books.

The spokeswoman told silicon.com that the exchange, which switched to its digital trading platform TradElect in June 2007, is trading normally today after a fix was put in place. She said the problem had been identified but at time of writing the exchange had not revealed the reason behind the glitch.

According to the spokeswoman, the exchange noticed there was "insufficient connectivity" to the market as a whole at 08:45 and, as a result, it decided to suspend connectivity entirely at 09:15(BST).

A spokesman for the exchange told silicon.com: "It was a software issue relating to connectivity where two unpredictable events coincided and the fix now prevents these two things happening at the same time. As it is not a hardware issue, the outage was not related to volumes and that is the reason why we did not automatically switch to a back-up site."

The outage comes in an important month for the exchange. The platform was expected to begin to offer trades in Italian equities this month, made possible through the acquisition of Borse Italia in 2007.

This month was also the deadline for the platform to reach 10,000 continuous messages per second.

Post a comment
Print

Post your comment

In order to post a comment you need to be registered and logged in.

Latest CIO Insights stories

Featured white papers

Vulnerability Management Buyer's Checklist

Qualys

Key Questions to Ask Before You Select a VM Solution Choosing a solution for Vulnerability Management (VM) is a critical step toward protecting your organisation's network and data. Without proven, automated technology for precise detection and remediation, no network can withstand the daily onslaught of new vulnerabilities that threaten security. To help finalise your decision on which solution to buy, Qualys provides this 12-point short list of considerations that will help you determine what will work best for your organisation.

Download now »
Creating a Dynamic Infrastructure through Virtualization

IBM

In almost every case,the transformation to a dynamic infrastructure will involve virtualization.Many IT professionals think of virtualization specifically in terms of servers.IBM,however,has a broader perspective,in which virtualization is seen as a generalapproach to decouple logical resources from physical elements,so that thoseresources can be allocated faster,more cost-effectively and more dynamically,wherever the business requires them in real time to ideally meet changingdemand levels or business requirements.

Download now »
How IP geolocation can improve your website experience and marketing activity

Quova

With geolocation technology, you can know a web user's real world whereabouts. This report examines the benefits from the fictional retailer's point of view. Things-4-You- a thriving online business, which had a poor record in converting online visitors into buying customers. Things-4-You demonstrates the potential of IP geolocation online. retailers.

Download now »