Chris Hughes, Columnist

Now the London Stock Exchange Is Back to Life, It’s Investigation Time

Ex-Goldman banker David Schwimmer has laid down a big strategic marker since becoming CEO, but operational matters are the lifeblood of this business.

August 16, 2019 at 9:20 AM UTC

By Chris Hughes

Chris Hughes is a Bloomberg Opinion columnist covering deals. Previously, he worked for Reuters Breakingviews, the Financial Times and the Independent newspaper.

A little down time.
Photographer: Bloomberg/Bloomberg

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The London Stock Exchange’s trading failure on Friday came at a bad time for the markets but a relatively good time for its newish CEO David Schwimmer. The former Goldman Sachs Group Inc. banker has been enjoying a glorious honeymoon. It had to end at some point.

The precise cause of the outage, fixed within an hour and 40 minutes, isn’t clear. But when trading isn’t available for such a long period after the scheduled open, something has gone badly wrong. Time for an investigation.