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Trading volume in Royal Bank of Scotland Group PLC shares was up 30% in comparison with the 52-week trading volume average, by 7% in Barclays PLC and by 12% in HSBC Holding PLC. U.K.'s FTSE 100 index closed higher 3.9%, representing the strongest rise since Jan. 24, when it closed up 4.8%. Meanwhile, traders at major U.K. stockbrokers decried the trading disruption on what could have been a record trading day. "There is frustration at what could have been a very busy day. With the news about Fannie and Freddie out of the U.S., this had the potential to be a record day," a trader at a major U.K. bank
said.
Traders at another large U.K. bank said trading had been quiet, restrained and downbeat. "This is certainly embarrassing for the exchange," one trader said.
Meanwhile, Chi-X, which has grabbed nearly 20% market share in trading of FTSE 100 stocks, said Monday its platform was fully functional, although many traders said only limited volume had been redirected onto Chi-X.
Chi-X Chief Executive Peter Randall said a reason for that would be that many brokers' ability to trade relies on getting price feeds from the LSE.
"Their engines are configured to accept price feeds from LSE, and if they don't get it, they can't trade," he told Dow Jones Newswires. "I imagine we'll see more trading houses taking price feeds from both LSE and Chi-X in the future."
The last time the LSE had such a long outage of trading was April 5, 2000. The-then chief executive, Gavin Casey, resigned the following September. Some reports attributed his leaving to among others the outage as well as over a failed merger attempt with Germany's Deutsche Boerse AG.
Trading volume in Royal Bank of Scotland Group PLC shares was up 30% in comparison with the 52-week trading volume average, by 7% in Barclays PLC and by 12% in HSBC Holding PLC. U.K.'s FTSE 100 index closed higher 3.9%, representing the strongest rise since Jan. 24, when it closed up 4.8%. Meanwhile, traders at major U.K. stockbrokers decried the trading disruption on what could have been a record trading day. "There is frustration at what could have been a very busy day. With the news about Fannie and Freddie out of the U.S., this had the potential to be a record day," a trader at a major U.K. bank said. Traders at another large U.K. bank said trading had been quiet, restrained and downbeat. "This is certainly embarrassing for the exchange," one trader said. Meanwhile, Chi-X, which has grabbed nearly 20% market share in trading of FTSE 100 stocks, said Monday its platform was fully functional, although many traders said only limited volume had been redirected onto Chi-X. Chi-X Chief Executive Peter Randall said a reason for that would be that many brokers' ability to trade relies on getting price feeds from the LSE. "Their engines are configured to accept price feeds from LSE, and if they don't get it, they can't trade," he told Dow Jones Newswires. "I imagine we'll see more trading houses taking price feeds from both LSE and Chi-X in the future." The last time the LSE had such a long outage of trading was April 5, 2000. The-then chief executive, Gavin Casey, resigned the following September. Some reports attributed his leaving to among others the outage as well as over a failed merger attempt with Germany's Deutsche Boerse AG.
Trading volume in Royal Bank of Scotland Group PLC shares was up 30% in comparison with the 52-week trading volume average, by 7% in Barclays PLC and by 12% in HSBC Holding PLC. U.K.'s FTSE 100 index closed higher 3.9%, representing the strongest rise since Jan. 24, when it closed up 4.8%. Meanwhile, traders at major U.K. stockbrokers decried the trading disruption on what could have been a record trading day. "There is frustration at what could have been a very busy day. With the news about Fannie and Freddie out of the U.S., this had the potential to be a record day," a trader at a major U.K. bank
said.
Traders at another large U.K. bank said trading had been quiet, restrained and downbeat. "This is certainly embarrassing for the exchange," one trader said.
Meanwhile, Chi-X, which has grabbed nearly 20% market share in trading of FTSE 100 stocks, said Monday its platform was fully functional, although many traders said only limited volume had been redirected onto Chi-X.
Chi-X Chief Executive Peter Randall said a reason for that would be that many brokers' ability to trade relies on getting price feeds from the LSE.
"Their engines are configured to accept price feeds from LSE, and if they don't get it, they can't trade," he told Dow Jones Newswires. "I imagine we'll see more trading houses taking price feeds from both LSE and Chi-X in the future."
The last time the LSE had such a long outage of trading was April 5, 2000. The-then chief executive, Gavin Casey, resigned the following September. Some reports attributed his leaving to among others the outage as well as over a failed merger attempt with Germany's Deutsche Boerse AG.Trading volume in Royal Bank of Scotland Group PLC shares was up 30% in comparison with the 52-week trading volume average, by 7% in Barclays PLC and by 12% in HSBC Holding PLC. U.K.'s FTSE 100 index closed higher 3.9%, representing the strongest rise since Jan. 24, when it closed up 4.8%. Meanwhile, traders at major U.K. stockbrokers decried the trading disruption on what could have been a record trading day. "There is frustration at what could have been a very busy day. With the news about Fannie and Freddie out of the U.S., this had the potential to be a record day," a trader at a major U.K. bank said. Traders at another large U.K. bank said trading had been quiet, restrained and downbeat. "This is certainly embarrassing for the exchange," one trader said. Meanwhile, Chi-X, which has grabbed nearly 20% market share in trading of FTSE 100 stocks, said Monday its platform was fully functional, although many traders said only limited volume had been redirected onto Chi-X. Chi-X Chief Executive Peter Randall said a reason for that would be that many brokers' ability to trade relies on getting price feeds from the LSE. "Their engines are configured to accept price feeds from LSE, and if they don't get it, they can't trade," he told Dow Jones Newswires. "I imagine we'll see more trading houses taking price feeds from both LSE and Chi-X in the future." The last time the LSE had such a long outage of trading was April 5, 2000. The-then chief executive, Gavin Casey, resigned the following September. Some reports attributed his leaving to among others the outage as well as over a failed merger attempt with Germany's Deutsche Boerse AG.
