On 26th November, trading on the London Stock Exchange was suspended for nearly 4 hours after an IT glitch.
The LSE, Europe’s oldest independent exchange, said taking trade offline was the only way to ensure a fair and orderly market after customers reported the connectivity problems in early trading.
Market players were able to continue to place buy and sell orders into the exchange’s order book after trading was taken offline at 10:33 a.m., but those trades were not executed until trading was resumed at 2 p.m.
The problem was apparently caused by connectivity issues, forcing the bourse to place orders for shares into an auction call period, allowing traders to buy and sell shares without the trades being executed. This caused a slump of 99.8 points in the FTSE 100, which in turn affected more than 2,800 companies trading shares on the London Stock Exchange.
In September last year the LSE suffered its worst systems failure in eight years, causing the share market to suspend trading for about seven hours and infuriating its users.
We’ve become so reliant on modern computer technology that many people don’t consider what will happen if something like this happens to them.
How would you cope without access to the information your firm relies on daily? Would it be business as usual or would you grind to a halt? Believe it or not you have a 70% chance of disaster hitting your business.
IFFW, the Computer Support London specialists, provide backup and disaster recovery services that ensure it will be business as usual for your firm should disaster strike.
Our secure, automated data backup service transmits encrypted data from your server, desktop or laptop over the internet to two geographically separate locations where it is stored safely on disk and can be easily retrieved when you need it. This easy to use service enables you and your staff to restore your files via the internet from home or an emergency office location.
If you haven’t already drawn up a contingency plan for IT disasters, give us a call and we’ll draw up detailed disaster recovery plans that meet the specific needs of your business to help you recover quickly from an interruption, whatever the cause.