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Traders from London to Singapore struggle as cyber outage disrupts business
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Traders from London to Singapore struggle as cyber outage disrupts business
Jul 19, 2024 3:24 AM

LONDON, July 19 (Reuters) - Traders in oil, gas, power,

stocks, currencies and bonds from London to Singapore struggled

to operate on Friday as a global cyber outage hampered

operations, companies, banks and trading sources said.

LSEG Group, which runs the London Stock Exchange ( LDNXF ),

said its Workspace news and data platform suffered an outage

that affected users worldwide due to a "third-party global

technical issue".

The European Energy Exchange said in an internal memo seen

by Reuters that clients using the Trayport power and gas trading

platform were having problems to trade "due to infrastructure

issues with third-party service provider".

At least six trading sources at oil majors Shell

and BP as well as trading house Vitol said operations

were affected. BP, Shell and Vitol did not immediately respond

to requests for comments.

"We are having the mother of all global market outages," one

trader said.

"People can't switch their computers on after restarts.

Those who didn't restart are doing fine," another trader said.

German banks are facing disruptions, a spokesperson for the

Deutsche Kreditwirtschaft financial industry association said.

South Africa's Capitec Bank said card payments, ATM

and App services had been fully restored after experiencing

significant disruptions.

Major banks JPMorgan, HSBC, Goldman Sachs ( GS ) and Barclays did

not immediately respond to requests for comments.

Besides the financial sector, the outages rippled far and

wide, with major U.S. airlines ordering ground stops on Friday.

It was not immediately clear whether the call to keep

flights from taking off were related to an earlier Microsoft ( MSFT )

cloud outage.

The Australian government said the outage appeared to be

linked to an issue at global cybersecurity firm Crowdstrike ( CRWD )

.

(Reporting by Reuters staff; Writing by Dmitry Zhdannikov;

Editing by Arun Koyyur)

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