LIFFE hit by the latest in a string of technical failures

A system failure that cut off data feeds to London's futures exchange for the first hour of trading yesterday is the latest in a series of technical problems with the Connect electronic trading system.

The London International Financial Futures and Options Exchange (LIFFE) was forced to delay market opening as a result of the failure, which could hit the company's plans to sell the Connect technology to other exchanges. Spread betting company Cantor Index said LIFFE should install a duplicate system to protect against failures. A spokesman said: "This technical breakdown is not good enough. It is not what the market needs." By Candice Goodwin