NYSE Tuesday opening mayhem traced to a staffer who left a backup system running

Post by Razengan » Thu, Jan 26, 2023, 6:26 PM UTC

barbishkoolaid wrote: post #168

idiotsecant wrote: post #163

Earlier quoted context omitted.

>if the NYSE did not exist, the world would continue to turn This is startlingly ignorant of the complex machine that is the modern economic system. If something like the NYSE was to shut down today it would be pandemonium. There is a difference between 'I don't understand how something works' and 'I don't understand how something works, so it is worthless'. The former is healthy and the first step to understanding,…

Relax, Ayn Rand cum True Believer complex. The current state of business within the current iteration of how people interact with one another isn’t some necessity. Yes, the world may fall apart for a relatively brief moment in the grand scheme of things — but then life will go on. The first step to understanding this is to drop the superiority complex. Very little is actually needed to keep the world turnin.

Post by davidf18 » Thu, Jan 26, 2023, 6:39 PM UTC

bob1029 wrote: post #159

ynniv wrote: post #106

It's easy to throw shade when Bloomberg writes an article that puts the blame on "a staffer". Having worked near some of these systems, the engineering and process are actually quite good. How many companies publish their private network topology, service p99.9 in microseconds, and detailed pricing on the open web? They're in a painfully competitive global market that's ambivalent to names on buildings. In a week or…

I've thought about getting into this... The stuff they work on is so incredible to me. Here's a quote from their Pillar product page: > Up to a 95% Reduction in Latency: The roundtrip latency on NYSE Pillar order entry sessions via Pillar matching engines has been reduced from ~592μs to ~32μs for FIX and from ~96μs to ~26μs for Binary, getting client orders into the market much faster. With a 92% improvement in the 9…

Post by UncleEntity » Thu, Jan 26, 2023, 6:41 PM UTC

wongarsu wrote: post #57

MrYellowP wrote: post #44

Earlier quoted context omitted.

> It's clearly not optimized for efficient use of personnel I disagree. When the sub sinks, all these people die. That's far more inefficient use of personnel. It feelf like you're putting more emphasis on the material cost ("the cost ... can be very large indeed") than on what actually matters.

It feels like a wartime-vs-peacetime priority problem. In wartime you would care about efficiency, build the largest number of subs staffed with the minimum crew. And since training crew quickly becomes the bottleneck you would probably go for the highest degree of automation that doesn't impact production times too much. In peacetime, efficiency isn't as important. What is important is the bad PR of losing one of yo…

Post by nubb » Thu, Jan 26, 2023, 6:48 PM UTC

bob1029 wrote: post #159

ynniv wrote: post #106

It's easy to throw shade when Bloomberg writes an article that puts the blame on "a staffer". Having worked near some of these systems, the engineering and process are actually quite good. How many companies publish their private network topology, service p99.9 in microseconds, and detailed pricing on the open web? They're in a painfully competitive global market that's ambivalent to names on buildings. In a week or…

I've thought about getting into this... The stuff they work on is so incredible to me. Here's a quote from their Pillar product page: > Up to a 95% Reduction in Latency: The roundtrip latency on NYSE Pillar order entry sessions via Pillar matching engines has been reduced from ~592μs to ~32μs for FIX and from ~96μs to ~26μs for Binary, getting client orders into the market much faster. With a 92% improvement in the 9…

Post by blibble » Thu, Jan 26, 2023, 7:04 PM UTC

ynniv wrote: post #106

It's easy to throw shade when Bloomberg writes an article that puts the blame on "a staffer". Having worked near some of these systems, the engineering and process are actually quite good. How many companies publish their private network topology, service p99.9 in microseconds, and detailed pricing on the open web? They're in a painfully competitive global market that's ambivalent to names on buildings. In a week or…