As CityUnslicker has pointed out, the London Stock Exchane has gone into meltdown today quite literally. The computer systems for trading have gone for a burton. Basically they are doing there best to get it back.My first thought when I saw this on Sky News earlier was "what about the Disaster Recovery suite in Habour Exchange?". I may be wrong on this now, but about six years ago I worked in Harbour Exchange at Canary Wharf, and two floors down from me was the LSE trading floor for these sort of emergencies.
I imagine the LSE is losing quite a bit of money today with trading so curtailed, but one has to wonder why, the minute they had been down for an hour, they did not iniitiate their DR plan. Maybe they don't have one anymore?
6 comments:
Or maybe they took the system down while they investigated some unusual trading patterns ?.
You're a man of the world, so should not always expect things to be as they seem.
And no, I have no insider knowledge of what's going on - I just think it's a bit odd.
I suspect the volume of trading after the Fannie May thing yesterday caused their systems to overload. I doubt the DR systems are more powerful so they wouldn't have coped either.
Z.
Reminds me of an incident a few years back where we, supposedly, had a guaranteed UPS in a financial institution I was working for. Only thing was that the UPS was interrupted for most of the day following the main power supply going down early in the morning.
Unlike the LSE our DR process did kick in as planned. We called it 'Business Continuity Plan'. Disaster Recovery sounds too negative.
Hi folks,
Because of the risk of being criticised for acting too hastily, most people don't invoke business continuity or disaster recovery plans until it's clear how long the outage will last.
By the time that's been established, repairs may well have been made.
No courage to act first, and save all the costs of lost trades, etc..
Mils
www.analyticred.com
Same could be said about Gordon's web site. Which has been displaying 404 Page Not Found for most of the morning
Er, actually, Dizzy: "...the London Stock Exchane has gone into meltdown today quite literally...". No. Metaphorically, yes: literally, no.
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