Tech Problems Halt London Stock Exchange
November 26th, 2009 By: Rich Miller
Trading on the London Stock Exchange has been halted by a technical problem with its primary electronic gateways. The outage, which has been blamed on connectivity problems with the exchange’s trading gateways, highlights the critical importance of electronic trading systems in the normal function of the global financial markets. All trades in London have been placed in an “auction call period” in which buy orders are matched to sellers, but the deal does not actually go through until the period ends. LSE has yet to announce when this “uncrossing time” will be. Detailed updates are available on the stock exchange’s incident communication page.