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London Stock Exchange in denial over system outage

Posted by Scott_Ruecker on · 6 comments
ComputerWorldUK; By Leo King 		Mail this story
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The London Stock Exchange (LSE) has failed spell out to the markets the precise cause of Monday’s catastrophic seven hour trading outage. The exchange carried out a series of upgrades and tests last weekend, but all LSE representatives are saying is that “there was a combination of software activities that coincided”, and these had caused the problem. The stock exchange has reiterated that the fault was not due to an upgrade on its high-speed trading platform TradElect.

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Comments (6)

moopst ·
Quoting:The Financial Services Authority, the UK's market watchdog, denied it was formally investigating Monday's failure.


Incredible! A seven hour outage and no formal investigation? I imagine they must measure the cost in some millions of Pounds per minute for the larger trading houses.

Quoting:When the FSA was asked if it would require the LSE to make public its analysis of the cause of the crash, it said such discussions, if necessary, would be held behind closed doors.


Clearly the FSA is placing the stock exchange's interests above the public's.
Bob_Robertson ·
"Clearly the FSA is placing the stock exchange's interests above the public's."

Like bailing out investment banks?
GDStewart ·
And mortgage companies.
Scott_Ruecker Story submitter ·
And Microsoft.
Bob_Robertson ·
AAAAHHH!

If the Fed.Gov actually goes out and bails out Microsoft (more than the DMCA did, that is), I am going to go postal.
tuxchick ·
/Me reloads a big wad o' nine mils for Bob.

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