Turquoise experiences glitch as LSE prepares for Millennium migration

Turquoise, the pan-European multilateral trading facility owned by the London Stock Exchange, has experienced a two-hour outage, with trading shut down from 08.31 to 10.37 UK time on 2 November on both the venue's integrated order book and its mid-point dark order book.
By None

Turquoise, the pan-European multilateral trading facility owned by the London Stock Exchange (LSE), has experienced a two-hour outage, with trading shut down from 08.31 to 10.37 UK time on 2 November on both the venue's integrated order book and its mid-point dark order book.

Trading on the exchange began at 08.00 as normal, however an issue affecting the trading system was reported at 08.25 and trading halted six minutes later. At 08.57, the problem was identified as a network related issue affecting all participants.

At 09.49, Turquoise announced via its real-time incident communication portal that a small number of trades that took place after 08.23 would be cancelled, and that a list of the affected trades would be sent to affected members by email. All order books were then cleared before trading resumed at 10.37.

The latest outage follows a previous incident on 5 October 2010 when Turquoise was affected by internal network issues for 75 minutes. This followed teething troubles with the venue's order books the previous day, the first day of trading on the LSE's new MillenniumIT-supplied trading platform.

Meanwhile, the LSE is expected to make an announcement this week confirming the date for the switchover of its main exchange from its current TradElect platform to Millennium Exchange. Currently, 14 November is the earliest date under consideration, according to an LSE spokesperson.

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