No Time for Downtime (or Sub-Prime)
Wednesday afternoon's glitch-which delayed the LSE's closing auction and closing price calculation-saw erroneous data distributed to data vendors and impacted values for the FTSE 100 index. As well as being costly to traders and embarrassing for the LSE, the problem also opens the door to those new venues created as a result of MiFID, such as Chi-X, that trade stocks listed on other markets. Chi-X was able to continue trading LSE-listed stocks-though traders may have been hampered by the absence
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