London Stock Exchange System Failure
Filed Under (Bursa Alert!, World News) by Webmaster on 09-09-2008
Tagged Under : Bursa Malaysia, chief information officer resign, fannie mae, freddie mac, johannesburg stock exchange, london stock exchange, lse, system failure, tradelect
ProTrade would like to highlight that Bursa Malaysia trading system failure is not an isolated phenomena.
It was reported today (9 September 2008) that London Stock Exchange suffered its worst systems failure in eight years yesterday, forcing the world’s third largest share market to suspend trading for about seven hours and infuriating its users.
The problem occurred on what could have been one of London’s busiest trading days of the year, as markets rebounded worldwide following the US government’s decision to bail out mortgage companies Fannie Mae and Freddie Mac. The exchange would not say whether volume was the issue and declined to give details on what had caused the problem.
The Johannesburg Stock Exchange, which uses the LSE’s trading platform TradElect, also suspended trading.
Trading was only resume 1 hour before the end of the day at London Exchange.
Will London Stock Exchange do the same thing as Bursa where the Chief Information Officer will be sacked or politely told to resign?
Every country handle their crisis differently.
