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 Technical Glitch halts trading on FTSE

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PostSubject: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 2:13 pm

I was looking at the charts and thinking to myself that it looks like they've all gone off on an extended tea break. I've just found the reason. Seemingly a technical glitch in the computing system has halted trading. The Computer says No eh.....
Sky News
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 2:20 pm

floatingingalway wrote:
I was looking at the charts and thinking to myself that it looks like they've all gone off on an extended tea break. I've just found the reason. Seemingly a technical glitch in the computing system has halted trading. The Computer says No eh.....
Sky News

Did you see the graph Auditor posted on the Fannie and Freddie thread for the ISEQ today...

A bit over-excited, do you think?
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 2:24 pm

floatingingalway wrote:
I was looking at the charts and thinking to myself that it looks like they've all gone off on an extended tea break. I've just found the reason. Seemingly a technical glitch in the computing system has halted trading. The Computer says No eh.....
Sky News

The irish one looks weird as well.
http://www.ise.ie/app/popup_graph.asp?INDEX_TYPE=

Follow the bug-fix live here


Last edited by Auditor #9 on Mon Sep 08, 2008 2:29 pm; edited 1 time in total
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 2:28 pm

Auditor #9 wrote:
floatingingalway wrote:
I was looking at the charts and thinking to myself that it looks like they've all gone off on an extended tea break. I've just found the reason. Seemingly a technical glitch in the computing system has halted trading. The Computer says No eh.....
Sky News

The irish one looks weird as well.
http://www.ise.ie/app/popup_graph.asp?INDEX_TYPE=
I noticed it with the Irish one first. Also just noticed that the chart for the Currency markets a bit strange too. Looks like it stopped around 10 a.m. Is that possible?
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 2:30 pm

floatingingalway wrote:
I noticed it with the Irish one first. Also just noticed that the chart for the currency market a bit strange too. Looks like it stopped around 10 a.m. Is that possible?
Are you thinking the worst? That the stock market has crashed ?? And it's a cover-up ???

You can follow the LSE bug-fix live here.
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 2:34 pm

Auditor #9 wrote:
floatingingalway wrote:
I noticed it with the Irish one first. Also just noticed that the chart for the currency market a bit strange too. Looks like it stopped around 10 a.m. Is that possible?
Are you thinking the worst? That the stock market has crashed ?? And it's a cover-up ???

You can follow the LSE bug-fix live here.
To be honest, I'm not sure what to think. Co-incidence? Cover-up? I'm simply an interested spectator. What do you think yourself?
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 2:38 pm

Ah.. they should just leave it all off for a few weeks, and let everyone calm down and discover living again.
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 2:39 pm

They are very dependent on computers so it is not beyond the realms of possibility for a technical glitch to cause this level of disruption. There is no plan B in modern stock trading to return to the traditional trading floor in most situations.

You'd think they'd be too busy to keep writing a report on what they're doing to fix it though Razz.
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 2:43 pm

The plot gets thicker. Have a look at this.
All European stock exchanges are on an extended tea break. Some glitch!
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 3:17 pm

floatingingalway wrote:
The plot gets thicker. Have a look at this.
All European stock exchanges are on an extended tea break. Some glitch!

What the heck is going on?
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 3:19 pm




This is the ISEQ - trucking along...

Sorry - won't post but shot up vertically for the first few hours and then flattened.
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 4:39 pm

EvotingMachine0197 wrote:
Ah.. they should just leave it all off for a few weeks, and let everyone calm down and discover living again.

Never was there a truer sentence.

ISEQ still going horizontal, expect profit taking to set in.
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 4:51 pm

floatingingalway wrote:
The plot gets thicker. Have a look at this.
All European stock exchanges are on an extended tea break. Some glitch!

This is all very strange, the FTSE and the ISEQ have completely different trading platforms. The LSE has its own system while we use the German Xetra, the Dublin Stock Exchange is, for all intents and purposes, merely an outpost of the Frankfurt Stock Exchange. The markets are only open if Frankfurt is open.

That graph on the ISEQ doesn't look entirely glitch-like, it just looks like it is treading water but that LSE link is very curious. This is quite odd.
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 5:39 pm

Ard-Taoiseach wrote:
floatingingalway wrote:
The plot gets thicker. Have a look at this.
All European stock exchanges are on an extended tea break. Some glitch!

This is all very strange, the FTSE and the ISEQ have completely different trading platforms. The LSE has its own system while we use the German Xetra, the Dublin Stock Exchange is, for all intents and purposes, merely an outpost of the Frankfurt Stock Exchange. The markets are only open if Frankfurt is open.

That graph on the ISEQ doesn't look entirely glitch-like, it just looks like it is treading water but that LSE link is very curious. This is quite odd.

The news said it was the longest break in trading for I think it was 8 years?
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 5:44 pm

cactus flower wrote:
Ard-Taoiseach wrote:
floatingingalway wrote:
The plot gets thicker. Have a look at this.
All European stock exchanges are on an extended tea break. Some glitch!

This is all very strange, the FTSE and the ISEQ have completely different trading platforms. The LSE has its own system while we use the German Xetra, the Dublin Stock Exchange is, for all intents and purposes, merely an outpost of the Frankfurt Stock Exchange. The markets are only open if Frankfurt is open.

That graph on the ISEQ doesn't look entirely glitch-like, it just looks like it is treading water but that LSE link is very curious. This is quite odd.

The news said it was the longest break in trading for I think it was 8 years?

It would seem so. Why would they suddenly suspend trading across Europe? This has me thinking of the Twilight Zone and a grand conspiracy afoot. I wonder will US markets be affected by this?
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 7:13 pm

Ard-Taoiseach wrote:
cactus flower wrote:
Ard-Taoiseach wrote:
floatingingalway wrote:
The plot gets thicker. Have a look at this.
All European stock exchanges are on an extended tea break. Some glitch!

This is all very strange, the FTSE and the ISEQ have completely different trading platforms. The LSE has its own system while we use the German Xetra, the Dublin Stock Exchange is, for all intents and purposes, merely an outpost of the Frankfurt Stock Exchange. The markets are only open if Frankfurt is open.

That graph on the ISEQ doesn't look entirely glitch-like, it just looks like it is treading water but that LSE link is very curious. This is quite odd.

The news said it was the longest break in trading for I think it was 8 years?

It would seem so. Why would they suddenly suspend trading across Europe? This has me thinking of the Twilight Zone and a grand conspiracy afoot. I wonder will US markets be affected by this?
It looks like they're having a bad day at the offices of nasdaq and dow jones


Last edited by floatingingalway on Mon Sep 08, 2008 7:16 pm; edited 2 times in total
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 7:14 pm

Ard-Taoiseach wrote:
cactus flower wrote:
Ard-Taoiseach wrote:
floatingingalway wrote:
The plot gets thicker. Have a look at this.
All European stock exchanges are on an extended tea break. Some glitch!

This is all very strange, the FTSE and the ISEQ have completely different trading platforms. The LSE has its own system while we use the German Xetra, the Dublin Stock Exchange is, for all intents and purposes, merely an outpost of the Frankfurt Stock Exchange. The markets are only open if Frankfurt is open.

That graph on the ISEQ doesn't look entirely glitch-like, it just looks like it is treading water but that LSE link is very curious. This is quite odd.

The news said it was the longest break in trading for I think it was 8 years?

It would seem so. Why would they suddenly suspend trading across Europe? This has me thinking of the Twilight Zone and a grand conspiracy afoot. I wonder will US markets be affected by this?

It seems to have cut London out of the best day's trading since I don't know when. It is a big blow surely to London's credibility. There are locations in the East jockeying for position to dislodge London. Somebody else's lucky day, maybe.
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 7:26 pm

cactus flower wrote:
Ard-Taoiseach wrote:
cactus flower wrote:
Ard-Taoiseach wrote:
floatingingalway wrote:
The plot gets thicker. Have a look at this.
All European stock exchanges are on an extended tea break. Some glitch!

This is all very strange, the FTSE and the ISEQ have completely different trading platforms. The LSE has its own system while we use the German Xetra, the Dublin Stock Exchange is, for all intents and purposes, merely an outpost of the Frankfurt Stock Exchange. The markets are only open if Frankfurt is open.

That graph on the ISEQ doesn't look entirely glitch-like, it just looks like it is treading water but that LSE link is very curious. This is quite odd.

The news said it was the longest break in trading for I think it was 8 years?

It would seem so. Why would they suddenly suspend trading across Europe? This has me thinking of the Twilight Zone and a grand conspiracy afoot. I wonder will US markets be affected by this?

It seems to have cut London out of the best day's trading since I don't know when. It is a big blow surely to London's credibility. There are locations in the East jockeying for position to dislodge London. Somebody else's lucky day, maybe.
I still don't understand what happened in the rest of Europe today. Why did they all stop trading?
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 7:34 pm

floatingingalway wrote:
cactus flower wrote:
Ard-Taoiseach wrote:
cactus flower wrote:
Ard-Taoiseach wrote:
floatingingalway wrote:
The plot gets thicker. Have a look at this.
All European stock exchanges are on an extended tea break. Some glitch!

This is all very strange, the FTSE and the ISEQ have completely different trading platforms. The LSE has its own system while we use the German Xetra, the Dublin Stock Exchange is, for all intents and purposes, merely an outpost of the Frankfurt Stock Exchange. The markets are only open if Frankfurt is open.

That graph on the ISEQ doesn't look entirely glitch-like, it just looks like it is treading water but that LSE link is very curious. This is quite odd.

The news said it was the longest break in trading for I think it was 8 years?

It would seem so. Why would they suddenly suspend trading across Europe? This has me thinking of the Twilight Zone and a grand conspiracy afoot. I wonder will US markets be affected by this?

It seems to have cut London out of the best day's trading since I don't know when. It is a big blow surely to London's credibility. There are locations in the East jockeying for position to dislodge London. Somebody else's lucky day, maybe.
I still don't understand what happened in the rest of Europe today. Why did they all stop trading?
This link on Bloomberg says it was simply a technical error
http://www.bloomberg.com/apps/news?pid=20601087&sid=a8O.zyebMLhY&refer=home
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 7:35 pm

The news is just saying that London had a problem. I'll take a look at France 24.
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 8:09 pm

European exchanges will have stalled because to a great extent they all live off the confidence of other exchanges. Particularly in Europe. They'll have been looking at what was going on in London and waiting.
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 8:22 pm

IGgroup daily update mentions the blackout on the LSE and he says the bailout of F&F may only buy a year of time before the cojones are squeezed again. It could be the start of the end of the credit crunch however, if mortgage sentiment picks up. Here's hoping that there are a host of people out there who suddenly want a pile of McMansions.

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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 8:29 pm

Well, it strikes me as very suspicious that a "technical glitch" can halt trading all over Europe on a day that should have seen a frenzy.
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 8:30 pm

floatingingalway wrote:
Ard-Taoiseach wrote:
cactus flower wrote:
Ard-Taoiseach wrote:
floatingingalway wrote:
The plot gets thicker. Have a look at this.
All European stock exchanges are on an extended tea break. Some glitch!

This is all very strange, the FTSE and the ISEQ have completely different trading platforms. The LSE has its own system while we use the German Xetra, the Dublin Stock Exchange is, for all intents and purposes, merely an outpost of the Frankfurt Stock Exchange. The markets are only open if Frankfurt is open.

That graph on the ISEQ doesn't look entirely glitch-like, it just looks like it is treading water but that LSE link is very curious. This is quite odd.

The news said it was the longest break in trading for I think it was 8 years?

It would seem so. Why would they suddenly suspend trading across Europe? This has me thinking of the Twilight Zone and a grand conspiracy afoot. I wonder will US markets be affected by this?
It looks like they're having a bad day at the offices of nasdaq and dow jones

Bad day for the US tax payers, good day for the holders of bonds?
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PostSubject: Re: Technical Glitch halts trading on FTSE   Mon Sep 08, 2008 8:38 pm

floatingingalway wrote:
Well, it strikes me as very suspicious that a "technical glitch" can halt trading all over Europe on a day that should have seen a frenzy.
What would you do if a bunch of volatile yo-yo stock which you owned suddenly increased 10% of a morning ?? I'd sell it anyway - there might not be such liquidity around for a while again you know Wink

i.e. is there any way it could have been purposely shut down for the day? Doesn't make sense at all. Let's see what happens tomorrow.
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