London Stock Exchange apologises for shutdown 

25 Feb 2011 | News - Comment now

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London Stock Exchange apologises for shutdown 

The London Stock Exchange has apologised to investors for today’s suspension in trading from a defect that resulted in systems being down for three hours.

Today’s error had a ripple effect, sending erroneous information to traders and triggering a temporary shutdown in the Chi-X Europe system for five minutes.

Trades were subsequently not placed by brokers throughout the City with traders reverting back to telephone to place orders.

Xavier Rolet, chief executive officer of the London Stock Exchange Group, confirmed that UK cash equity markets were paused at 8.03am, and then halted at 8.33am, following identification of a real time data dissemination issue.

He added, ‘We sincerely regret the inconvenience that today's disruption to trading has caused our customers.

‘We have resolved the real time data dissemination issue and our UK cash equity markets have now resumed trading.’

Having identified the source of the problem and gained confidence in the remedial steps needed to restore market connectivity, the London Stock Exchange resumed continuous trading across its cash equity markets at 12.15pm, after an auction call.

Related topics: London stock exchange, Trading

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