LONDON (AP) - Investors Were left in limbo for hours one Friday furnace as the London Stock Exchange halted trading Because Of A technical problem - the latest embarrassing lapse to hit the stock market as it tries to put new system in place.
The exchange dealings shortly Suspended After the opening auction, Blaming Issues with market data technology just Two Weeks after it icts Introduced new platform, called Set Me.
It restarted shortly after midday trading, With The chief executive, Xavier Rollet, Expressing "sincere regret" Has Caused The Inconvenient.
The apology did "little to appease Many traders are What Was Expected To Be a busy morning, After the release of Data Showing That Britain's economy WAS Faring Worse Than Previously Thought and The Volatility Hamid Stemming From The Libyan Political Crisis.
The outage Is The latest in a string of blackouts Caused by Technical problems at The Exchange in recent Years - Including a full-day shutdown in September 2008 and has three-and-a-half-hour knockout in November 2009 - just days and edible after Borsa Italiana, the London exchange's platform Milan, WAS hit by a five-hour blackout.
"At a time of Uncertainty in the Market, where, traders are HAVING to keep on Their Toes With The situation in Libya, The Last Things They Need Is An Unexpected halt to trading," Joshua Raymond, market strategist at City Index, said high risk personal loans.
David Buik, market analyst at BGC Partners, Said The shutdown Was "very frustrating to have lives Remains The London Financial Capital of the World." Mr. Buik Noted thats the exchange aussi Had a good deposit receipt Business With Countries like Russia; Some nine one million shares traded Were In The oil company Rosneft in about The First Two Hours of trading in London.
"London Would Have Had a good cut at That," he said. "Sadly, all this business Went To Moscow."
Mr. Rollet has led The Push to Give the London exchange an edge in the Face of Increasing Competition From The likes of Chi-X Europe and BATS Europe. In one positive for the London exchange, we trade Those platforms Remained Light "during the shutdown, Suggesting it Remained The first European exchange.
