All,


Our suppliers have informed us that the LSE is currently having a problem, which is resulting in the slow running of level 1 and level 2, and is effecting all vendors, they are working to resolve it.

Ian

i agree. Companies are sold the sob story by IT companies that they need to have a capacity 10 times bigger than they actually need yet they still fall over. With a parallel hot standby network there should be such resilience that nothing should go down ever. Thats why DR plans exist

I'm not sure I understand this 'busy' day idea. As far as individual stocks go, banks and builders heavily traded and everything else is pretty much ignored and has been for several weeks so overall volumes are surely very poor so why the outage? FTSE opens 180 higher and by and large along with most shares hasn't moved.

john50,

Can you elaborate a little please I am not sure what you mean by AU?

Ian

8 September 2008

Service Announcement

Service Update 5

The purpose of this Service Announcement is to inform you that as previously communicated the Exchange has placed all order driven markets in a continuous auction and quote driven markets in a non-mandatory period.

Connectivity will be re-established once all of the necessary corrective actions have been completed. A further announcement will be issued to confirm when connectivity will be re-enabled and a subsequent announcement will be issued to provide prior notice of when continuous trading will be re-enabled.

Lets hope the shorters take a deserved spanking

The problem with having a parallel 'hot-standby' network is that it costs twice as much -- and it may still go wrong. Hardware will fail, software is never adequately tested, usually because of complexity and the difficulty of simulating 'live' workload.

In my experience of building systems for organizations, it is extrememly difficult to get them to spend sufficicent money to ensure one working system of barely adequate capacity. Sob stories just don't come into it.

Has this changed to a BDSM site??

we might loose the battle but we will still win the war there is no way this is going to fly long term The US has just increased the national debt by 12%. I might be getting spanked but im still smiling

Hi Ian once a share goes into auction AU should appear beside it to let people know the aucton has started, they show it over on advfn.

John,

This would normally show in the status section on Level 2, and the mid price bar would show in purple. However, as this is an exceptional situation that the LSE is it may not show now.

Also, we only show this information on level 2 not on level 1 (stockwatch)

Ian

Bloomberg TV have just said it is the longest outage period in 8 years- and what a day to pick to have an IT glitch.

Gawd - is it still out? :>S

Conspiracy...or cock-up?

LSE say :

8 September 2008

Service Announcement

Service Update 6

The purpose of this Service Announcement is to inform you that the Exchange will be re-enabling connectivity from approximately 11:45 BST.

Following these actions, and to ensure a fair and stable market, all order book segments will remain in an auction phase. Once connectivity is re-established, it will be possible to enter or delete orders, though no electronic execution will occur at this stage.

Continuous trading will re-commence at the end of that auction period, which will be at least 15 minutes after the next service announcement.

Whatever it is I can only imagine the frustration in the city at the mo with lost trading opportunities.

would it be just me that thinks the big players have been wrong footed on this one and thrown a spanner in the works untill they can reposition their trading models

I've become more cynical by the day so no it isn't just you that thinks a conspiracy may be at work whatever anybody says.

I agree.

right picking up rumours of further tech issues at the LSE
PM
Very funny Throg
NH
one of the big banks saying it will not be up and running until 3pm and the market will remain open to 7.00pm

FTalphaville

You can bet some big players will have worked out how to make millions from this