Trading on the London Stock Exchange has resumed after a technical malfunction closed it for all of Friday morning.
The bourse stopped automated trading to investigate a "market data" issue but resumed at 1215 GMT.
The problem had been identified during Friday's opening auction, which is used to determine the day's starting prices on the exchange.
During the suspension, downwardly revised UK GDP data was released.
Investors were also left frustrated as calmer oil markets saw brisk trading on other European indexes.
"We sincerely regret the inconvenience that today's disruption to trading has caused our customers," said LSE chief executive Xavier Rolet.
The exchange said it would not extend its trading hours to make up for the lost trading time.
An LSE spokesperson added that orders-driven securities trading - which comprises the bulk of trading on the exchange - had resumed.
Quote-driven trading continued throughout the day but this form of trading is very small in comparison with orders-driven trading.
The exchange earlier noted in a statement on its website that it had "moved its main market trading to the MillenniumIT system earlier this month", but did not specify whether this lay behind the error.
Trading on the Borsa Italiana - which is owned by the LSE - was halted for three and a half hours on Tuesday, also because of a computer error.
According to the exchange, that incident was unrelated to Friday's London suspension, and the two exchanges use different technology platforms.
"In this day and age, you simply cannot afford not to have your technology in duplication," said David Buik of brokerage BGC Partners, speaking on Bloomberg television, criticising the exchange's apparent lack of a back-up system.
"If it's not foolproof, where is the alternative?" he said.
And City Index market strategist, Joshua Raymond, added: "At a time of uncertainty in the markets, where traders are having to keep on their toes with the situation in Libya, the last thing they need is an unexpected halt to trading."
This article is from the BBC News website. � British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.
Source: http://www.bbc.co.uk/go/rss/int/news/-/news/business-12576844
woodworking plan weight loss reverse lookup satellite tv for pc get ex back
No comments:
Post a Comment