London Stock Exchange
Trading ceased before 9am this morning on the LSE
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LSE crash leaves traders in the lurch

Technical glitch drives traders to rival platforms

Tom Young, Computing 08 Sep 2008
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Trading on the London Stock Exchange was brought to a standstill this morning after a technical glitch prevented traders connecting to the LSE's Tradelect platform.

The glitch comes on one of the busiest days of the year when the US government's bail-out of mortgage lenders Freddie Mac and Fannie Mae led to heavy trading.

Trading ceased before 9am and has not resumed.

"It is not an issue with the platform itself, but with the connectivity to the platform," said a spokesman for the LSE. "We are going through the reconnection process at the moment."

A spokesman for rival trading platform Turquoise refused to comment on whether it had seen increased trading volumes this morning, other than to clarify operability.

"Our UK stocks are actively trading and they have been all morning," said the spokesman.

See also:

London Stock ExchangeFirms will be able to put servers in stock exchange datacentre  02 Sep 2008
Yann L’HuillierPan-European equity trading system launched today after months of delays  15 Aug 2008
Stock exchange boardUS trading platform will stick with same supplier for UK electronic equities trading platform  15 Apr 2008
Picture of Yann L'Huillier, chief technology officer, TurquoiseState-of-the-art IT systems are central to plans to open up Europe’s stock trading sector and generate more competition  06 Dec 2007
picture of the london stock exchangeNew regulations and faster technology are changing share dealing  06 Sep 2007

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Tags: Internet, Finance, Financial-services, Communications, Internet

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