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LSE trading halted as system goes down | | 2008/09/08 | | A day of heavy trading at the London Stock Exchange (LSE) following the nationalisation of Fannie Mae and Freddy Mac - America's two biggest mortgage lenders - had to be suspended earlier today because of a suspected overloading of essential computer systems.
On its website, the exchange explained: "No orders can be entered and no trade executions will occur."
A spokeswoman for the LSE gave no details as to any suspected root cause and could not say when trading would resume in "a controlled way".
However, she said that the exchange was currently involved in an investigation which would centre upon "connectivity issues."
Founder of Capital Spreads Simon Denham told the Telegraph: "This happens on the LSE two or three times a year, but I can't remember it ever having been down this long.
"I don't know what excuse they will give - for the second biggest stock exchange in the world it's pretty poor."
CMC Markets trader Sejal Patel commented: "We've been having to use other exchanges like Turquoise this morning, so it's obviously quite negative for the LSE." |
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