“Suspicious circumstances†may surround the human error which led to disruption on the London Stock Exchange’s (LSE) new trading platform, the exchange has claimed.
Turquoise, the new trading system from the LSE, went down yesterday (November 2nd) for two hours.
Early investigation by the organization suggested that the human error may have resulted from some form of sabotage and a full enquiry into the incident has now begun, the LSE explained.
The incident, alongside “necessary network upgradesâ€, means a planned main market migration to new technology offered by MilleniumIT for the Turquoise trading system will now be delayed until next year.
Mark Darvill, director at trusted security firm, AEP Networks said: “If the investigating authorities do find that the Turquoise trading platform was hit by sabotage, that would raise some very serious and fundamental questions about the state of internet security at the LSE.
“While viruses and malware are often cited as threats to an organisation’s internet security, the lurking threat that is much harder to control is human error. It’s therefore absolutely critical that the integrity of any trading platform is protected with the highest levels of security ensuring reliability, survivability, resilience and ultimately conformance."
Last month, the LSE claimed Turquoise would offer investors the fastest trading times in the world because of the movement to the new financial technology.
Average latency is thought to be twice as fast as its nearest rivals at 126 seconds.
By Jim Ottewill
Turquoise, the new trading system from the LSE, went down yesterday (November 2nd) for two hours.
Early investigation by the organization suggested that the human error may have resulted from some form of sabotage and a full enquiry into the incident has now begun, the LSE explained.
The incident, alongside “necessary network upgradesâ€, means a planned main market migration to new technology offered by MilleniumIT for the Turquoise trading system will now be delayed until next year.
Mark Darvill, director at trusted security firm, AEP Networks said: “If the investigating authorities do find that the Turquoise trading platform was hit by sabotage, that would raise some very serious and fundamental questions about the state of internet security at the LSE.
“While viruses and malware are often cited as threats to an organisation’s internet security, the lurking threat that is much harder to control is human error. It’s therefore absolutely critical that the integrity of any trading platform is protected with the highest levels of security ensuring reliability, survivability, resilience and ultimately conformance."
Last month, the LSE claimed Turquoise would offer investors the fastest trading times in the world because of the movement to the new financial technology.
Average latency is thought to be twice as fast as its nearest rivals at 126 seconds.
By Jim Ottewill
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