London Stock Exchange Suffered a System Failure Again
On Thursday at 9:32 London Stock Exchange (LSE) one of the largest stock exchanges in the world has experienced a failure for more than three hours. This failure has resulted a lost of more than 5 percentage points to 62.85 percent of FTSE 100 stocks. The problem gave investors a negative impression of the current situation of LSE.
This was not the first time that the LSE occur a failure due to Technical Issues, on September 2008 Traders were not able to sell or buy stocks because of computer software glitch, In an attempt to improve their market LSE has recently acquired for £18 million (US$30m) MillenniumIT to make it as another platform to help avoiding technical problems.
For LSE A failure of an hour can mean billions of dollars of lost trades and LSE also faces competition from other traders such as Chi-X and BATS. So a certain failure can cause a serious lost.
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