Traders were frustrated by the latest outage coming during a hectic week on global financial markets, hit by worries about a U.S. recession and the U.S.-China trade spat.
“Investors would have been yearning for a quiet Friday after a week of turmoil for the markets driven by recession fears,” said AJ Bell investment director Russ Mould.A large number of market participants were also away on holiday, which may have limited the impact of the failure. Paul Mumford, a fund manager at Cavendish Asset Management said it would be a “major embarrassment” for the LSE amid stiffening competition, rising costs and greater regulation among exchange operators.This is the second outage at the LSE, which handles about 5 billion pounds worth of volume each day, in just over a year.
In June 2018, the opening auction was delayed due to a technical fault, but trading resumed after an hour.Reuters News’ parent Thomson Reuters (
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