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June 7, 2018, 10:01 a.m. EDT

Glitch delays London Stock Exchange’s open by an hour

U.K.’s main bourse: Opening auction hit by ‘a technical software issue’

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By Victor Reklaitis, MarketWatch


Reuters
A woman walks past the London Stock Exchange building in January 2017.

The London Stock Exchange has blamed a “technical software issue” for a one-hour delay to the opening of equity trading on Thursday.

The glitch, which has now been resolved, meant the opening auction for the U.K.’s main bourse began at 9 a.m. London time, or 4 a.m. U.S. Eastern Time, rather than the usual 8 a.m.

The blue-chip FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.34% was recently trading 0.2% higher, while the mid-cap FTSE 250 /zigman2/quotes/210598417/delayed UK:MCX +0.35% gained 0.3%.

“London Stock Exchange identified a technical software issue that was preventing some members from entering orders into the pre-open auction system prior to the standard market opening time,” said spokespeople for the exchange’s operator, London Stock Exchange Group  , in an emailed statement.

“To preserve the integrity of the market and to ensure orderly trading, London Stock Exchange decided to delay the market open while the matter was investigated and informed market participants accordingly.”

After the software problem was resolved, members were notified at 8:40 a.m. that trading would start at 9 a.m., the spokespeople added, also saying that trading has been “operating normally” since then.

Read more: LSE’s glitch is just the latest high-profile outage to rile traders

As traders waited for the open, they joked on Twitter that at least they hadn’t lost any money yet...

...and suggested the exchange operator’s shares were due for a selloff:

Shares in LSEG were recently up 0.1% after earlier trading in the red.

/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,105.72
+24.00 +0.34%
Volume: 553,064
Aug. 3, 2021 4:59p
loading...
/zigman2/quotes/210598417/delayed
UK : FTSE UK
23,289.65
+80.98 +0.35%
Volume: 219,397
Aug. 3, 2021 4:59p
loading...

Victor Reklaitis is a London-based markets writer for MarketWatch. Follow him on Twitter @VicRek.

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