TAURUS (share trading)
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Taurus was a program that set out to transfer the London Stock Exchange from paper communication to an automated system. It was started in the 1980s and at the time several systems were up and running that achieved this goal but Taurus was to be bigger and better. The problem was that they had no concise scope, resulting in scope creep and cost overrun. Taurus eventually cost 75 million pounds and was replaced with SEAQ. It was abandoned in March 1993.
With 17 proposed systems, the designers behind Taurus tried to merge the ideas of the people involved, creating a Frankenstein's monster that reaped damages of 500 million pounds.
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Why TAURUS? Taurus (Transfer and Automated Registration of Uncertified Stock) was implemented with the hopes of reducing time taken and cost, increasing convenience and meeting political expectations.
