We've come a long way...
The use of algorithmic trading systems has grown exponentially, but the London Stock Exchange's request for banks to stop automated trading after the London bombings on July 7 shows there are still some concerns over their use. By Clive Davidson
On the morning of July 7, following the terrorist bombings in London, the London Stock Exchange (LSE) asked member firms to turn off all their automated trading systems. The action was in the interest of the continuation of an orderly market, the exchange said. The firms obeyed, and from 11:30am to 3:15pm only manual trading took place.
However, many firms were unhappy about the request, believing that the exchange's action was heavy-handed and made no distinction between the different types of
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