London Stock Exchange suffers third outage in three months: What's happening - Hindustan Times
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London Stock Exchange suffers third outage in three months: What's happening

Bloomberg |
Dec 05, 2023 05:52 PM IST

The recent outages come as LSEG is seeking to transform itself from an exchange provider into a data services giant.

London Stock Exchange Group Plc suffered a third outage in a few months as trading was halted in about 2,000 smaller shares.

 London Stock Exchange Group Plc suffered a third outage in a few months as trading was halted in about 2,000 smaller shares.(REUTERS)
London Stock Exchange Group Plc suffered a third outage in a few months as trading was halted in about 2,000 smaller shares.(REUTERS)

Trading in the affected stocks was halted shortly after 9:15am local time. The bourse operator said it expects a resumption at 10:15am.

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In October, trading in hundreds of smaller shares was halted in the final 80 minutes of a session. And last month, LSEG’s FTSE Russell indexes suffered a 40-minute outage, disrupting trades in the UK, Italy and South Africa.

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The recent outages come as LSEG is seeking to transform itself from an exchange provider into a data services giant. To that end, Microsoft Corp. in 2022 agreed to buy a 4% stake in the company as part of a deal where LSEG agreed to spend billions of dollars on cloud services with the technology giant over the next 10 years.

In 2021, the company completed its $27 billion purchase of Refinitiv, which was meant to jumpstart the new era for LSEG. To that end, the bourse operator has said it will create five new divisions starting next year: data and analytics, FTSE Russell, risk intelligence, capital markets and post trade.

The parent company of Bloomberg News competes with Refinitiv to provide financial news, data and information.

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