London Srock Exchange Down for trade

London Srock Exchange Down for trade

www.telegraph.co.uk

Trading on the London Stock Exchange has been halted after a computer system failed on one of the most frantic days of trading seen so far this year.

No orders can be entered and no trade executions will occur, the exchange said on its website. The LSE plans to bring back trading in a “controlled way’’, but couldn't say how long that will take.

(visit the link for the full news article)

I thought it was rather interesting that on the BBC news they just announced that the LSE was down with a connectivity issue. I wonder if Russian and Chinese hackers are preventing the western banking conglomerate from trading so that they can buy up a lions share of Freddie Mac and Fannie May since the U.S. government bailout was announced.

mmm

Camain

www.telegraph.co.uk
(visit the link for the full news article)

Good find!

This is just peachy. How can the system be 'shut down' so easily? I thought the robust redundancy and security would be commensurate with the importance of the economic activity that goes on there. Can hackers really have that much power over the markets?

reply to post by Maxmars


I work at the Johannesburg Stock Exchange and we had to suspend trading all day due to the fact we get our datafeed from the LSE(via TradeElect). Let me tell now that there no conspiracy, just a simple everyday problem that I am not allowed to reveal. In any event, it has been fixed and the trading has been extended until later tonight.

reply to post by deltaalphanovember


Ok, you said something that sent my spidey senses tingling.

An "everday problem that [you] are not allowed to reveal"? Really?

Hrmm... can't reveal because of why? You revealed the fact that it was an everyday problem just fine, but you can't reveal what it is?

If I were a cop, I'd say you had something to hide. Not to protect yourself, but the system you work with. My guess is that this could be duplicated from outside.

What say you?








Mod Edit: Full quote of preceding post removed. Reply To function used. Please see ABOUT ATS: Warnings for excessive quoting, and how to quote. Thank you - Jak

[edit on 8/9/08 by JAK]

reply to post by Quazga


Quazga,

Hermana, you are too good! I wonder why propensity for technical error is considered such a taboo to discuss. Confidence in the system?

Presumably all exchanges are similarly engineered and thus likely to be equally exposed to such 'glitches.'

Well, I was just curious, no need to weaken any economies!

whether it was a technical glitch or not, I find it interesting, that for some reason the main powerbrokers in Europe were denied access to the market during a time when they could have heavily leveraged themselves into a potentially very lucrative situation with fannie mae, and freddie mac. Kinda odd how the americans got a chance, then the Asian markets, then the Europeans were left with the crumbs on the floor. Just my take, but IF there were a 2 power system fighting for financial control, one being the NWO, the other being Russian, Chinese, anti-NWO conglomerate, I would think that the NWO kinda just lost out on some extra power.

Just my 2 cents

haha you know when I posted that, I thought somebody might jump on me. You see we are not allowed to speak to the media at any time for any reason. Enquiries have to be referred to our media representative.

As I was already pushing my luck by even posting here, I just wanted people to take a deep breath before jumping to wild conclusions. Panic is a bad thing. Blind panic even worse.

At the end of the day, as you now know, trading did take place and nobody was denied (altho volumes were not as much as they could have been).