Anger as LSE curtails algo trading systems

NEWS ANALYSIS: OPERATIONAL RISK | EXCHANGE ACTS IN THE WAKE OF THE LONDON TERROR ATTACKS

LONDON – Algorithmic trading software providers have refuted claims by the London Stock Exchange (LSE) that algorithmic traders can exacerbate volatility in times of market stress, a belief that led the LSE to compel algorithmic traders to switch off their systems in the wake of the London terrorist attacks on July 7.

Shortly after the attacks the LSE enacted 'fast market' rules, says Catherine Mattison, LSE spokesperson, requiring all systematic program trading to be switched off between 11.

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