The London Stock Ex- change can take two lessons away from its Black Monday, September 8, when its trading systems were out of commission for almost seven hours: First, it’s hard to wrest liquidity away from a dominant market center, which the LSE indisputably remains. Second, the LSE had better take steps to avoid a repeat performance, because competing venues are ready to pounce to gain market share.
中断是西证券交易所遭受的最糟糕的之一，特别是在普遍存在的时间。已经跳过的金融市场正在向美国抵押贷款机构和弗雷迪MAC的美国救助机构救助新闻开放。在伦敦终止的那一天，自7月中旬以来，纽约证券交易所首次转型超过60亿股，道琼斯工业平均水平攀升289.78点，或2.58％。In its only public statement on the matter, the LSE said that "a combination of technical events occurred simultaneously," forcing it to suspend trading at 9:15 a.m. An attempt two and a half hours later to "reestablish connectivity" couldn’t be sustained, and only after 4:00 p.m. was the exchange able to conduct a closing auction.
LSE客户抱怨交流是“穿越用户”，据某一市场来源称，交易将恢复交易，要求匿名。另一位观察员表示，在LSE的交易平台中的停电暴露缺陷，该平台在Microsoft Corp.技术上运行，并且每秒拥有10,000条邮件的容量。虽然LSE计划在年底逐渐增加，但远远低于竞争平台的75,000次消息峰值容量Chi-X Europe。
希望能够利用这种级别的操作灾难 - 它也影响了在交易上运行的约翰内斯堡证券交易所 - 是Chi-X和其他称为欧盟在金融工具指令中的市场的多边贸易设施。但是9月8日也不是他们的美好的一天。MTFS的卷实际上是下降，反映了平台从LSE的价格报价上的依赖性程度。
Chi-X, which was launched last year by Instinet and several bank partners and claims to be handling 20 percent of the daily volume of the FTSE 100 stocks, traded €3.5 billion ($5 billion) worth of shares on September 8, compared with €6.0 billion the next day and €5.4 billion the preceding Friday. Chi-X CEO Peter Randall says his 76 members couldn’t trade futures and options that are priced on underlying LSE quotes.
绿松石上的卷，一个在8月份开放的九个银行MTF，“别人一样，”首席执行官Eli Lederman说：“即使我们在整个中正常运作。主要市场仍然为许多参与者享有特殊地位。”
Alasdair Haynes, CEO of New York–based Investment Technology Group’s international business, says that the LSE has managed to maintain a level of price discovery that others can’t equal, but adds, "I’m not saying this won’t change over time." Lederman is convinced that the exchange’s dominance "won’t last forever." Financial firms are wary of "excessive dependence on any single platform," he says, and "though it may take a while, one would expect people to be more venue-agnostic over time."
纽约证券交易所Euroonext的首席执行官Duncan Niederauer，同意中断“将焦点客户在连通性上。我们预计他们将更多地关注每个市场中的替代品或两个。”计划在11月推出欧洲MTF，如果这种转变实现了纽约证券交易所的效益。所以纽约的基于纽约的Archroval纳斯达克OMX，他的纳斯达克奥姆斯欧洲在上个月延迟了，也许甚至是LSE，也许是其自己的替代交易平台，贝加尔尔在规划阶段。
基于波士顿的金融业研究公司的资深分析师Cubillas Ding表示，经纪人经销商和基金经理也有一些从9月8日学习的东西：他们应该有应急计划到位，所以它们并不容易受到单一的影响失败点。Lederman注意到许多公司还没有“智能订单路由系统，可以处理无初级情况。”