A number of market participants that source London Stock Exchange (LSE) market data via third-party vendors are not receiving bid and ask quotes for some stocks.
Traders using data from affected vendors have been reading zeros on their front-end systems in place of live bid and ask data. Thomson Reuters and Interactive Data have confirmed that they are experiencing problems but other providers are also believed to have been affected.
The issue began to emerge following the migration of the LSE's trading platform from its previous TradElect system to Millennium Exchange on Monday.
However, it is unclear whether the fault lies with the exchange or the data vendors, nor how many stocks are affected.
“Unfortunately a couple of market data vendors have been unable to ensure that their systems are ready to align to the new Millennium Exchange platform and we are actively working with them to help resolve their issues,” read a statement from the LSE. “All other trading customers and vendors are successfully trading on the new platform, benefiting from Millennium Exchange’s superior functionality and speed.”
According to the LSE, its cash markets have handled over 75 million orders since Monday's implementation, with an average latency of 125 microseconds.
The LSE experienced a minor glitch on Tuesday 15 February, which delayed the start of its 16.30 closing auction by 42 seconds.
On 5 October, trading on the LSE's multilateral trading facility, Turquoise, was delayed by an hour and fifteen minutes because of internal network issues. The problem resulted in the planned migration of the LSE's main market being postponed until this week.