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LSE fixes software glitch
Hugo Duncan, Evening Standard09.09.08
The London Stock Exchange tonight said yesterday's breakdown was down to a software fault rather than high trading volumes as it returned to business as usual.
"We've introduced a fix and we're confident it will not happen again," a spokeswoman said.
The glitch halted trading for seven hours yesterday in an embarrassing blow to the City which left LSE chief executive Dame Clara Furse fuming and angry traders demanding an explanation — and for heads to roll.
London missed out on what could have been one of its busiest trading days of the year as markets rallied following the rescue of Fannie Mae and Freddie Mac in the US.
Reader views (3)
If one man does not work in the fields, another goes hungry. These traders who gamble all day, yet call it a job, should not be allowed to punt on any day.
- Hedge, smallville
The LSO IS a large computer system.
If there is a serious software glitch, you simply switch over to the mirrored backup system.
The fact that there was no backup system means that management have not understood their business and must go.
- Nick, London
Don't tell me, after the inevitable enquiry [the obviously overdressed, and doubtlessly overpaid] egocentric Dame Clara will predictably and outrageously tell us 'that lessons will have been learned'.
By whom? Certainly not by the management.
Time was when senior executive management were paid to plan ahead and to think beyond a scandalously solitary 'Plan A' box, and they were not paid to repeatedly clear up their own careless mess or to concoct excuses.
No sackings then, of seniors for blase^ incompetence I suppose?
- Dave, cumbria
