Still this report (and the previous statement) does not give enough detail on why a backup system misoperation resulted this. Also, critical large systems like exchange rarely have a single point failure. Usually there will be a sequence of issues along the event chains leading to this. Thus one "failed to properly shutdown" caused all this is a bit incredible. We will need more explanation.
NYSE Tuesday opening mayhem traced to a staffer who left a backup system running
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Re: NYSE Tuesday opening mayhem traced to a staffer who left a backup system running
#12Re: NYSE Tuesday opening mayhem traced to a staffer who left a backup system running
#13[flagged]
Re: NYSE Tuesday opening mayhem traced to a staffer who left a backup system running
#14Re: NYSE Tuesday opening mayhem traced to a staffer who left a backup system running
#15Earlier quoted context omitted.
The great thing about automation is the breadth, depth and speed at which I can propagate mistakes.
I've not seen it put so eloquently.
- William E. Vaughan https://quoteinvestigator.com/2010/12/07/foul-computer/
Re: NYSE Tuesday opening mayhem traced to a staffer who left a backup system running
#16Seems so weird to not have automated checks for something that seems to be described as "someone left the light on" and also not have the exchange automatically initiate itself. However, it still isn't that clear what the problem was. Were prices not "real" or correct? Stuff like this will happen more and more. We treat software driven systems rather recklessly.
The auction is meant to find a stable price and can have some wild prices coming in, because no matching happens at the point of entry, the market will naturally find a level before trading commences. In this case, those wild prices were matching, resulting in crazy trades no-one would have expected. You'd be surprised how many manual processes there are in places like this. It's a combination of legacy systems / pro…
We had hundreds of jobs and upgrades happening over each weekend. It definetly needed an eye casting over it regardless of the automation.
Re: NYSE Tuesday opening mayhem traced to a staffer who left a backup system running
#17Re: NYSE Tuesday opening mayhem traced to a staffer who left a backup system running
#18Backup system connected to prod, that somehow reminds of the Knight Trading debacle. Someone there apparently connected some test code to their prod and they blew up the company in under an hour.
Re: NYSE Tuesday opening mayhem traced to a staffer who left a backup system running
#19Re: NYSE Tuesday opening mayhem traced to a staffer who left a backup system running
#20Earlier quoted context omitted.
I've not seen it put so eloquently.
To err is human, to really foul things up requires a computer - William E. Vaughan https://quoteinvestigator.com/2010/12/07/foul-computer/