The London Stock Exchange suffered yet another technical problem today. This time, it caused trading to be suspended for some 4 hours.

According to this morning story at the London Telegraph, trading was halted a few minutes after the market opened at 0800 London time. The market then reopened at 1215, this afternoon Telegraph story reports.

This is the second major problem with the LSE's new trading system since it was made officially operational on the 14th of February. The previous incident happened on the 15th of February. The Telegraph afternoon's article says that the LSE blamed the problem on a "real time data dissemination issue."

Traders were naturally irritated with this latest gaffe.

This is also the second time this week that LSE executive management was embarrassed by the poor performance of its trading operations. As the Telegraph notes:

"On Tuesday, Borsa Italiana, a unit of LSE, suspended trading for six-and-a-half hours because of a technical glitch a day after a day after the country’s benchmark FTSE MIB Index [see PDF on FTSE MIB Index here] plunged amid concern about unrest in Libya."

The technical glitch was attributed by Borsa Italiana as "a technical issue on DDMPlus, real time data feed service used by the majority of domestic operators."

The LSE is facing an official probe into the Borsa Italiana outage by Italian regulators. UK regulators may decide to start looking into the cause of today's outage as well.

The LSE apologized, of course, for the disruptions.

The Conversation (0)

Why Functional Programming Should Be the Future of Software Development

It’s hard to learn, but your code will produce fewer nasty surprises

11 min read
A plate of spaghetti made from code
Shira Inbar

You’d expectthe longest and most costly phase in the lifecycle of a software product to be the initial development of the system, when all those great features are first imagined and then created. In fact, the hardest part comes later, during the maintenance phase. That’s when programmers pay the price for the shortcuts they took during development.

So why did they take shortcuts? Maybe they didn’t realize that they were cutting any corners. Only when their code was deployed and exercised by a lot of users did its hidden flaws come to light. And maybe the developers were rushed. Time-to-market pressures would almost guarantee that their software will contain more bugs than it would otherwise.

Keep Reading ↓Show less