In a serious blow to the credibility of the London Stock Exchange a server outage at 3:04pm yesterday caused a "halting of trading in 300 UK stocks".
London is facing stiff competition from other rivals including BATS Europe and Chi-X; the technical problem which occurred yesterday was the second in as many months with the FT reporting today:
"It was the LSE's second significant outage in as many months and is likely to damage further its reputation as it looks to protect market share from rivals".
Last month the London Stock Exchange suspended trading in some shares when a "glitch in its market feed" became apparent.
The London Daily News reported last year on 8 September (see link below) when the LSE had a "catastrophic failure" leading to some to call it a "bloody disaster".
The political leadership of London have been lobbying hard for companies to invest and trade on the LSE exchange at a time when London is experiencing one of its most severe economic recessions. The question marks over the technical robustness of the LSE trading systems will damage London's image as the financial hub of Europe, with Paris and Berlin ready to take business away from the capital.
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The U.S. Baptist missionaries in Haiti who are facing kidnapping charges for trying to take 33 children out of the country last week made an earlier attempt at taking children, a Haitian police officer said.
