Technical glitches haunt financial markets September 1, 2007
Posted by James Webster in : finance , trackbackThe current volatility in financial markets certainly appears to be playing hell with the technology that powers them…
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Barclays blames technical glitch for £1.6bn emergency loan
UK bank Barclays says it was forced to borrow £1.6bn from the Bank of England after a technical problem with its link to the Crest settlement system … [Finextra Research news] - S&P glitch hits ASX index calculations
The Australian Securities Exchange (ASX) says a system problem at index provider Standard & Poor’s (S&P) prevented it from supplying prices on its … [Finextra Research news] - And a few weeks ago a glitch on the Sydney Futures Exchange caused the S&P/ASX200 to drop 300 points due to trader’s inability to hedge their positions on the futures market.
The prevailing volatility makes it hard for the mainstream press to report credibly on market movements. I walked through Liverpool Street Station at lunch this week; the big-screen TV was showing a Sky News report that the London markets had slid on more subprime fears… meanwhile a ticker to the right was showing that the FTSE 100 was up for the day.
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