by Mike Simons

London Stock Exchange trading struck with data glitch

Oct 13, 2009
Financial Services IndustryIT Strategy

Technical problems led to the suspension of trading in some FTSE 100 stocks on the London Stock Exchange this morning.

The Exchange said that problems emerged with the way some customers were inputting orders for certain stocks, which led to invalid data in the Exchange’s core TradElelect and Infolect systems.

The Exchange was adamant that the suspension was not caused by its systems.

When problems emerged this morning, the Exchange rapidly narrowed down the issue to 16 stocks, six of them FTSE 100 companies. Trading on these shares was suspended for an hour while faulty data was purged from the system.

The rest of the market was unaffected by the problems, and all stocks are now trading normally, a spokesman said.

Last month, the LSE announced it will acquire Sri Lankan trading firm Millennium IT for £18 million, replacing its Accenture built, Microsoft .Net-based TradElect platform. The new platform is understood to be based on Linux.