In traditional transactional locking systems, such as Transactional Locking with Read-Write locks (TLRW), threads may frequently update lock metadata, causing system performance degradation. A system and method for implementing transactional locking using reader-lists (TLRL) may associate a respective reader-list with each stripe of data in a shared memory system. Before reading a given stripe as part of a transaction, a thread may add itself to the stripe's reader-list, if the thread is not already on the reader-list. A thread may leave itself on a reader-list after finishing the transaction. Before a thread modifies a stripe, the modifying thread may acquire a write-lock for the stripe. The writer thread may indicate to each reader thread on the stripe's reader-list that if the reader thread is executing a transaction, the reader thread should abort. The indication may include setting an invalidation flag for the reader. The writer thread may clear the reader-list of a stripe it modified.