Computer Glitches Halt London Trading
September 8th, 2008 By: Rich Miller
Trading on the London Stock Exchange has been halted for most of today due to a “connectivity issue” that has left UK traders unable to respond to a surge in U.S. equities in the wake of the government’s weekend rescue of the Fannie Mae and Freddie Mac mortgage agencies.
The London Times describes what’s known of the problem:
The LSE suspended connection to the exchange before 9am today after some customers experienced problems. The operator admitted it was unsure when trading will restart today, while the cause of the problem is not yet known. One City insider said that traders will lose “millions and millions and millions” of commission on deals, adding that today’s closedown is “very serious and disastrous.” It appears there is a fault with the SETS electronic trading platform since the Johannesburg Stock Exchange also suspended trading.
[...] this via Data Center Kowledge earlier today, it is mentioned in quite a few places now (eg here on IT World and on Computer [...]
IT’s About Uptime - The StackSafe Blog » Blog Archive » Case Study in the Cost of Downtime: London Stock Exchange OutagePosted September 15th, 2008
[...] The significant cost of the outage to the users of the exchange. [...]