Third Outage in Three Months Hits London Stock Exchange
The disruption comes amid LSEG's ongoing transformation into a data services giant.
- The London Stock Exchange Group (LSEG) suffered its third outage in three months, halting trading in about 2,000 smaller shares.
- The recent outages come as LSEG is seeking to transform itself from an exchange provider into a data services giant.
- In 2022, Microsoft Corp. agreed to buy a 4% stake in LSEG as part of a deal where LSEG agreed to spend billions on cloud services with the technology giant over the next 10 years.
- In 2021, LSEG completed its $27 billion purchase of Refinitiv, which was meant to jumpstart the new era for LSEG.
- LSEG plans to create five new divisions starting next year: data and analytics, FTSE Russell, risk intelligence, capital markets and post trade.