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The London Stock Exchange Goes Down For Whole Day

Posted by ScuttleMonkey on from the at-least-no-one-died-...-yet dept.

Colin Smith writes "TradElect, the Microsoft .Net based trading platform for the London Stock Exchange, was offline for about seven hours, meaning that their 5-nines SLAs are shot for approximately the next 100 years. The TradElect system was launched back in June of 2007 and was designed for increased speed and system capacity."

5 of 792 comments (clear)

  1. Re:Oh, my. by im_thatoneguy · · Score: 5, Interesting

    Actually this is "again".

    The LSE used to run on HP-NonStop (w/ Cobol and C as far as I can find) but still managed to take itself down for 8 hours in 2000.

    If they're going to go down for a day every 7-8 years it might as well be cheaper and faster. (Articles quote the CTO as citing 10x performance increases).

    (All based on a quick google search)

    So before the hounds descend upon Microsoft it would seem the LSE has a history managing to bring down whatever system they run on.

  2. ketan by ketan324 · · Score: 5, Interesting

    The LSE going down is a big deal. The US exchanges have been trying very hard to displace LSE's strong hold in the EUROPEAN markets. With the merger of NYSE/Euronext and NASDAQ/OMX this cuts market share and faith in LSE as everyday passes. Additionally with continued tech issues, NASDAQ could reinvigorate their bid for LSE again! I work for a data major data vendor, and I know from experience the NYSE and NASDAQ are much more reliable than their European counterparts. Also LSE going down today is huge, considering the news on Fannie/Freddie, WAMU, Lehman, and the WRONG news on United Airlines. Many arbitrage opportunities were lost for LSE traders.

  3. Re:Misleading summary by caluml · · Score: 5, Interesting
    Although:

    The Johannesburg Stock Exchange, which uses the LSE's trading platform TradElect, also suspended trading.

    Hmm. Smells like a new version to me.

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  4. Re:Misleading summary by mashade · · Score: 5, Interesting

    Yep, I remembered and laughed so hard I had to put the images next to each other:

    http://tipotheday.com/2008/09/08/microsofts-foot-in-mouth-london-stock-exchange/

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  5. Re:Get The Facts by narcberry · · Score: 5, Interesting

    Interesting since they haven't been "running on Microsoft technologies" for "the past six years"...

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