Monday 18 June 2018

London Stock Exchange blames software glitch after stock market fails to open

A ‘technical software issue’ prevented some members from entering orders.

A technical glitch meant the London Stock Exchange did not open on time. (Kirsty O’Connor/PA)
A technical glitch meant the London Stock Exchange did not open on time. (Kirsty O’Connor/PA)

By Kalyeena Makortoff, Press Association Chief City Correspondent

The London Stock Exchange has blamed a software glitch for delaying trading on one of the world’s biggest markets on Thursday morning.

Equities usually begin trading at 8am London time but remained closed for an hour after the planned opening.

A spokesman said a “technical software issue” prevented some members from entering orders into the pre-open auction system before the standard market opening time.

To preserve the integrity of the market and to ensure orderly trading, London Stock Exchange decided to delay the market open while the matter was investigated London Stock Exchange

“To preserve the integrity of the market and to ensure orderly trading, London Stock Exchange decided to delay the market open while the matter was investigated and informed market participants accordingly.

“Following resolution of the issue, members were notified at 8.40am that trading would commence at 9am.”

The spokesman added that trading across its markets has been operating normally since that time.

The FTSE 100 opened up around 0.5% before falling back slightly to trade up 0.2%.

London Stock Exchange Group shares were up around 0.2% in afternoon trading.

Press Association

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