The London Stock Exchange (LSE), one of the largest trading areas in the world, was out of work on February 25 during 4 hours because of technical bugs. The Financial Times reports that brokers had to refuse from using electronic systems and run trading by phone.
CityWire notes that it is still unclear for the stock exchange what has become the reason of this error. In 2010 the LSE began switching to MillenniumIT system which is meant to accelerate the trading process. Just after introducing it the stock exchange had to stop the deals for 2 hours in Turquoise system. At first, LSE was asserting that the reason for bug were “suspicious circumstances”, but later they recognized that human factor seems to take place.
MillenniumIT adoption was delayed to February 2011. On February 15 the LSE faced another technical failure, but it was very short – just a few seconds. At the end of February it was reported that due to technical problems the Italian Borsa Italiana was not capable to open which is involved in LSE structure. The deals were disfunctional for 6 hours there.
