Third Eikon Outage Hits Refinitiv
Posted by Colin Lambert. Last updated: August 9, 2021
Refinitiv’s Eikon platform experienced its third outage in four months this week, with users able to see news headlines and prices, but unable to open articles or data tools on Monday (2 August).
The latest outage marks a tough start to Refinitiv’s life under LSE Group, which completed its $27 billion purchase at the start of the year. The firm’s share price has dropped almost 20% this year as investors fret over the exchange group’s ability to efficiently integrate the market data and trading services provider.
In LSEG’s latest earnings call, following the unveiling of a 4.6% increase in revenues and a more than doubling of operating profit to GBP 1.17 billion, CEO David Schwimmer said, “Outages are completely unacceptable to me, they’re unacceptable to our customers. We had a corrupted server issue with our authentication system, so not with the underlying services or products including Eikon, we have identified the issue and we are addressing it.”
Users, as well as LSE Group itself, will be hoping that is the case, one Asian-based customer tells The Full FXthey have concerned, noting, “Every outage seems to be related, but different. It’s like they’re playing ‘whack-a-mole’, they solve one issue and another is either created or pops up.”