After a rare delay, trading on the FTSE finally kicked off almost two hours later than usual on Friday. The opening auction started at 09:20 with stocks opening for trading at 09:40, well after the standard 08:00am start in what was the longest glitch since 2011. This is the second glitch in two years, the last one was a year ago saw the FTSE open 1 hour late.
There is no hiding from this one, the two-hour delay to open is an embarrassment for LSE and raises plenty of questions over the group’s technology. The timing is pretty horrendous for LSE, just weeks after it sealed a deal to buy Refintiv, in its quest to become a global markets and information powerhouse. LSE’s reputation as one of the most reliable stock exchanges in Europe is starting to be questioned.
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