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Version 2 Version 3
Technical glitch halts LSE trades Technical glitch halts LSE trades
(20 minutes later)
The London Stock Exchange has suspended trading due to a technical problem that has affected its trading system.The London Stock Exchange has suspended trading due to a technical problem that has affected its trading system.
A spokesperson said "connectivity issues" meant traders could not connect with the LSE trading platform.A spokesperson said "connectivity issues" meant traders could not connect with the LSE trading platform.
The problems mean that no share orders have gone through, the LSE said, but it is working to restore the system fully as quickly as possible.The problems mean that no share orders have gone through, the LSE said, but it is working to restore the system fully as quickly as possible.
The FTSE 100 share index hit 5,440.20 points shortly after 0900BST and has remained at that level since then.The FTSE 100 share index hit 5,440.20 points shortly after 0900BST and has remained at that level since then.
An incident report on the LSE website said connectivity was suspended at 0915BST. "No one can enter or delete orders at this time," the report said.An incident report on the LSE website said connectivity was suspended at 0915BST. "No one can enter or delete orders at this time," the report said.
The London Stock Exchange said connectivity had been re-enabled at approximately 1145BST.The London Stock Exchange said connectivity had been re-enabled at approximately 1145BST.
But the market is not yet functioning normally. But the market is not yet fully functioning.
Now that connectivity has been re-established, traders can enter or delete share trades, but the trades cannot yet be executed. Now that connectivity has been re-established, traders can enter or delete share orders, but the trades cannot yet be executed.
As a result, traders are working blind, as they don't know what price they are buying or selling at. As there are no trades going through, there are no accurate share prices.
Only when the system is fully up and running will accurate prices be restored.Only when the system is fully up and running will accurate prices be restored.
That phase is called continuous trading when the system matches buy and sell orders automatically and executes the trades.That phase is called continuous trading when the system matches buy and sell orders automatically and executes the trades.