NASDAQ Halts Trading for 3 Hours

by

Wall Street traders took to Twitter today to lament the 3 hour system outage that crippled NASDAQ and left stocks flat. The outage started around 12:15pm after its Securities Information Processor was incorrectly disseminating the wrong quotes and prices.

By around 12:20pm everyone was asking one question:

CAST-NASDAQ-halts-trading-image-1

Some found the comedic side of it:

CAST-NASDAQ-halts-trading-image-2

Even Reuters got in on the joke:CAST-NASDAQ-halts-trading-image-3

CAST-NASDAQ-halts-trading-image-5

CAST-NASDAQ-halts-trading-image-6

CAST-NASDAQ-halts-trading-image-7

CAST-NASDAQ-halts-trading-image-8

CAST-NASDAQ-halts-trading-image-9

While others took it more seriously:

CAST-NASDAQ-halts-trading-image-10 CAST-NASDAQ-halts-trading-image-11

CAST-NASDAQ-halts-trading-image-12

At one point there was talk that NASDAQ had been hacked, but nothing substantial:

CAST-NASDAQ-halts-trading-image-14 CAST-NASDAQ-halts-trading-image-13

Others thought the reason might be a bit more … sinister:

CAST-NASDAQ-halts-trading-image-16 CAST-NASDAQ-halts-trading-image-17 CAST-NASDAQ-halts-trading-image-18

But overall the reaction was a mixture of fear, doubt, and disbelief that this type of technical glitch could happen again -- especially after the Facebook debacle.

CAST-NASDAQ-halts-trading-image-19

Luckily there’s legislation on the horizon. The SEC’s Regulation SCI (Systems Compliance and Integrity) is aimed at getting these crucial, yet volatile, IT systems under control and injecting some confidence back into a market that sorely needs it.  In fact, CAST has submitted official comments on the pending regulations, which you can read here – making the case that without a focus on software quality, Regulation SCI will have little impact on system integrity in the financial markets.

Eventually the exchange did come back online to some partial trading, but not before one fast-fingered analyst created a parody YouTube:

Get the Pulse Newsletter  Sign up for the latest Software Intelligence news Subscribe Now <>
Open source is part of almost every software capability we use today. At the  very least libraries, frameworks or databases that get used in mission critical  IT systems. In some cases entire systems being build on top of open source  foundations. Since we have been benchmarking IT software for years, we thought  we would set our sights on some of the most commonly used open source software  (OSS) projects. Software Intelligence Report <> Papers
In our 29-criteria evaluation of the static application security testing (SAST)  market, we identified the 10 most significant vendors — CAST, CA Veracode,  Checkmarx, IBM, Micro Focus, Parasoft, Rogue Wave Software, SiteLock,  SonarSource, and Synopsys — and researched, analyzed, and scored them. This  report shows how each measures up and helps security professionals make the  right choice. Forrester Wave: Static Application Security Testing, Q4 2017  Analyst Paper
This study by CAST reveals potential reasons for poor software quality that  puts businesses at risk, including clashes with management and little  understanding of system architecture. What Motivates Today’s Top Performing  Developers Survey
Load more reviews
Thank you for the review! Your review must be approved first
Rating
New code

You've already submitted a review for this item

|