Beta
×

Welcome to the Slashdot Beta site -- learn more here. Use the link in the footer or click here to return to the Classic version of Slashdot.

Thank you!

Before you choose to head back to the Classic look of the site, we'd appreciate it if you share your thoughts on the Beta; your feedback is what drives our ongoing development.

Beta is different and we value you taking the time to try it out. Please take a look at the changes we've made in Beta and  learn more about it. Thanks for reading, and for making the site better!

London Stock Exchange: What really went wrong

DMandPenfold (1108673) writes | more than 3 years ago

Microsoft 0

DMandPenfold (1108673) writes "The London Stock Exchange has made a U-turn on the system requirements placed on data vendors such as Thomson Reuters, Interactive Data and Bloomberg, after three weeks of problems since the launch of its new trading platform.

The decision, to fundamentally change the timing and systems around closing share price data recording, was made following a heated meeting with the providers that addressed significant disparities in quoted share prices.

The move has been widely welcomed by vendors, which provide share price data from the LSE to traders, and compete on speed and quality. A number of them had expressed real opposition to the changes that the LSE pushed through as it moved to a new platform. The exchange declined to comment on the issue.

The LSE set its new Linux-based, C++ written matching engine, Millennium Exchange, live on 14 February. The problems after the launch, including a four-hour outage last week, highlight a number of technology and project management issues – as well as what appear to be efforts by some organisations to establish who has the final say in technology changes around the exchange.

A rule had come into force with the new platform that vendors had to set their systems to report closing prices at 16.30 each day – after the end of normal trading but before the daily closing auction.

This week, the LSE hosted an emergency conference call with vendors – including Thomson Reuters, Interactive Data, Morningstar and SIX Telekurs – to address the data problems. On the call, held on Tuesday, data providers said the changes were leading to serious share price problems.

The LSE’s rule, insisting on taking closing prices at 16.30, has now been ..."

Link to Original Source

cancel ×

0 comments

Sorry! There are no comments related to the filter you selected.

Check for New Comments
Slashdot Login

Need an Account?

Forgot your password?

Submission Text Formatting Tips

We support a small subset of HTML, namely these tags:

  • b
  • i
  • p
  • br
  • a
  • ol
  • ul
  • li
  • dl
  • dt
  • dd
  • em
  • strong
  • tt
  • blockquote
  • div
  • quote
  • ecode

"ecode" can be used for code snippets, for example:

<ecode>    while(1) { do_something(); } </ecode>