London Stock Exchanges Finds, Fixes Software Bug

FRAMINGHAM (04/07/2000) - The London Stock Exchange identified and fixed the software problem that caused it to shut down for almost eight hours on Wednesday.

The problem was caused by a component in the London Market Information Link, the system that sends real-time information from the exchange's central computer to market users.

As a result, trading and information systems were no longer in sync with each other and the data wasn't reliable, officials said.

To investigate the situation - and to keep wrong data from going out - the systems had to be shut down and restarted, a process that takes several hours, the exchange said in a statement issued yesterday.

While the exchange has backup facilities to guard against hardware failure, the fact that the problem had to do with real-time data, the backup systems couldn't be used - the data errors would have simply been replicated by the backup.

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