All FTSE Russell indices experienced a technical issue that caused a delay in their publication for approximately forty minutes on Friday, according to LSEG, the parent company of the index provider. This disruption affected one of the largest index compilers globally, which provides benchmarks for equities and fixed income, including stocks listed in London and Italy.
A spokesperson from LSEG confirmed that the technical issue occurred between 09:10 and 09:50 GMT but has since been resolved. They assured Reuters that all indices are now being calculated and published to all vendors.
During the period of the technical issue, London’s blue chip FTSE 100 did not update for about 40 minutes, as indicated by price data on LSEG’s terminal. However, Borsa Italiana stated earlier that Italy’s blue chip FTSE MiB was updating regularly, although there were initial concerns that it might also be affected.
It is worth noting that Thomson Reuters, the parent company of Reuters News, has been a shareholder in LSEG since 2021. Additionally, LSEG pays Reuters for news stories.
The technical issue that temporarily prevented the publication of FTSE Russell indices raises concerns about the reliability and stability of financial markets. Index compilers play a crucial role in providing accurate and up-to-date information for investors, traders, and financial institutions. Delays or disruptions in the release of this information can have significant consequences.
FTSE Russell is a trusted name in the industry, and any technical issue affecting their indices can lead to uncertainty and potential disturbances in the markets. Investors rely on these indices to gauge the performance of stocks and make informed decisions. Therefore, it is crucial for index providers to maintain robust systems and infrastructure to minimize the occurrence of such incidents.
As the issue has now been resolved, it is expected that FTSE Russell indices will continue to function as usual. However, this incident serves as a reminder of the importance of ongoing investment in technology and infrastructure to ensure the integrity and reliability of financial markets.
Both LSEG and FTSE Russell should provide further clarity on the cause of the technical issue and outline any measures they are taking to prevent similar occurrences in the future. Transparency and accountability are vital in maintaining trust and confidence in the financial industry.
While the impact of this incident appears to have been relatively short-lived, it highlights the interconnected nature of global financial markets and the potential risks associated with technical glitches. With the increasing reliance on digital systems and technology in the financial sector, it is crucial for market participants to remain vigilant and address any vulnerabilities promptly.
As LSEG and FTSE Russell address this technical issue and take steps to prevent future disruptions, investors and market participants can continue to rely on the information provided by these index compilers. However, it is essential for all stakeholders to remain vigilant and ensure that the necessary measures are in place to uphold the integrity and stability of financial markets.
More detail via Daily Mail Online here… ( Image via Daily Mail Online )
