London Stock Exchange Has Longest Outage Since 2011
A technical glitch delayed the start of trading today on the London Stock Exchange. LSE’s partition 1 and 2 (FTSE 100 FTSE 250 and IOB instruments) open was delayed. Partition 3 operated as normal.
London Stock Exchange Partition 1 & 2 Open Delay – Longest Outage Since 2011 https://t.co/BC2W5rCwIG
— Mondo Visione (@ExchangeNews) August 16, 2019
The “technical software issue” delayed the opening of trading until 09:40. Instruments on partition 1 and 2 will resume in an opening auction call at 09:20 and uncrossed at 09:40.
Source: Mondo Visione
Some reactions on Twitter:
Now the London Stock Exchange Is Back to Life, It’s Investigation Timehttps://t.co/HGwKZsan5K
— Felipe Potes (@potesituation) August 16, 2019
Chris Hughes at Bloomberg Opinion wrote: “The London Stock Exchange’s trading failure on Friday came at a bad time for the markets but a relatively good time for its newish CEO David Schwimmer. The former Goldman Sachs Group Inc. banker has been enjoying a glorious honeymoon. It had to end at some point.
The precise cause of the outage, fixed within an hour and 40 minutes, isn’t clear. But when trading isn’t available for such a long period after the scheduled open, something has gone badly wrong. Time for an investigation.”
When it comes to complex, live information systems, are technical glitches inevitable? Second system outage for the London Stock Exchange in just over a year. https://t.co/Cxe1JsTZQ8
— Feng Li (@Professorfengli) August 16, 2019
Market shifts away from submission-based pricing, toward independently validated reference prices.
Aim is to increase information access and transparency for end user investors.
Traders Magazine takes a look at how the exchange rebate system has (or hasn't) changed since 2011.
A fireman's son, Schwall’s exit caps a 20+ year career on Wall Street.
KBW analysts believe the exchange operator is more likely to buy Refinitiv than be bought by HKEX.