London Stock Exchange “issue” delays trading by 100 minutes
The London Stock Exchange (LSE) failed to open at 8.00am BST on 16th August due to a “potential trading services issue”, the LSE said. The LSE did not immediately make clear whether the issue was a software glitch.
The outage lasted more than 90 minutes, with shares in the FTSE 100 and FTSE 250 eventually resuming trading at 9.40am. Dealing business was reportedly lost to the LSE's competitor, the CBOE, during the downtime.
This is LSE’s first major outage since June 2018, when a technical issue forced the exchange to delay opening until 9.00am. It is not, however, its longest: “human error” resulted in a two-hour suspension of the European equities trading platform Turquoise in November 2011.
According to a statement on the LSE’s website, the issue has been caused by a number of Good-Until-Date (GTD) orders that were expected to expire remaining in the system: “GTD orders expected to expire this morning have remained in the system. These orders cannot be traded against and are still being advertised via Market Data. This has caused crossed order books. This is being investigated.”
The orders were removed at 10.44am.