LSE delays new technology after system crash
03 Nov 2010
A technology crash yesterday morning that rendered the LSE's Turquoise trading system inoperative for two hours, has raised suspicions of sabotage.
The stock exchange operator later pointed to 'human error' behind the glitch under 'suspicious circumstances' to have been the likely cause of the systems breakdown.
In a statement, the LSE said it was taking the incident very seriously and had initiated a full internal investigation.
It has also called on the Financial Services Authority, to investigate the mysterious systems crash.
Though the suspect outage is believed not to have had anything to with personal gain, given the highly competitive nature of the industry in which the LSE operates, analysts say rivals could have a vested interest in seeing LSE chief Xavier Rolet's reforms grounded.
The alert comes with the LSE facing tough competition from rivals such as Chi-X Europe, which has been taking its slice of trading across major shares.
