System failure closes down London Supply Exchange

Here’s another interesting article from Itproportal titled:  System failing closes down London Stock Exchange

The London Supply Exchange (LSE) suspended trading for around seven hours following its worst system failing in eight years.

Making matters worse, the interruption took place on what might have been just one of the busiest trading days of the year adhering to a worldwide market rebound after the United States government made a decision to release the mortgage companies Fannie Mae and also Freddie Mac.

The Johannesburg Stock market likewise needed to suspend trading as it uses LSE’s trading system, TradElect.

The exchange did not disclose whether volume had caused the concern as well as it offered no information to dissatisfied traders on just what precisely had triggered the failure.

On the day of the disruption, the LSE opened at 7am GMT yet some brokers were incapable to trade as an outcome of connectivity problems. The exchange was then forced to put on hold trading to make sure that some market players were not disadvantaged. With just half a hr left prior to shutting time, the LSE re-opened offering brokers a brief home window in which to carry out trades.

The recent trading suspension was the longest the LSE has actually handled because April 5, 2000 when issues with an older trading system caused an eight-hour halt on trading.

Photo Credit Report: AhmadArdity/ Pixabay




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