London Stock Exchange suffers trading outages
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The news: The London Stock Exchange (LSE) suffered its third outage in as many months during trading on Tuesday morning, impacting small-cap trading for hundreds of stocks.
The numbers: The London Stock Exchange Group (LSEG) has been desperately trying to revamp its tech profile, having made significant purchases in efforts to power its digital transformation. Microsoft bought a 4% stake in the company in 2022 to lock in the exchange as a big spender on its cloud services. The year prior, LSEG finalised its blockbuster purchase of Refinitiv for USD27 billion ($41 billion).
The context: Small-cap trading was abruptly halted twice during the morning session, with the interruptions lasting for approximately one hour. Trading resumed as normal before 1pm UK time. The LSE has not provided an explanation into the cause of the outage.
Tuesday’s interruption mirrors the exchange’s outage experience in October, when small-cap trading was forced to close early. During November, a 40 minute outage of the LSE’s FTSE Russell indexes saw trades across the UK, Italy and South Africa impacted.
The source: London Stock Exchange Group
