Posted on 07/08/2015 2:10:59 PM PDT by SeekAndFind
An expert says a failed systems upgrade forced the New York Stock Exchange to halt trading on Wednesday.
Two weeks ago, the New York Stock Exchange told trading firms and other subscribers that it would be discontinuing some of its legacy systems. Apparently, the fix disconnected the entire NYSE.
The NYSE has not yet confirmed why trading on the exchange had been halted on Wednesday morning. It has said that it was the result of technical issues and did not offer any further elaboration.
But Eric Scott Hunsader, an expert in Wall Street trading systems who heads market data firm Nanex, said that it appears that a faulty system upgrade brought trading on the exchange to a halt. The NYSE has reportedly also told floor traders the exchange had to suspend trading due to an error with a systems upgrade that was rolled out before the market opened on Wednesday.
Hunsader said there were indications that the NYSE was having problems even before the market opened on Wednesday morning. At around 8:17 in the morning, according to Hunsader, the NYSE sent out a message alerting traders that there was a reported issue with a a number of the exchange’s “gateways.” The exchange said the problems would affect trading in a “subset” of stocks, but it didn’t say what that subset was. Gateways are access points that traders and other exchanges use to connect with the NYSE to place stock orders. The NYSE has dozens of gateways.
(Excerpt) Read more at fortune.com ...
I got a buck that says WSJ’s ticker flaked out when the NYSE went down. And United is their own completely separate screw up.
The nature of software is that everything installed more than 6 months ago is outdated. We call it job security, if you’re not making what you did last year obsolete it’s probably because you don’t work there anymore. And while time does equal money, money doesn’t buy time. Upgrades take a lot of work, and cause a lot of fear because you never know when that system you’re planning to unplug is actually the keystone.
Ha! Yeah.
Google street view:
675 W Peachtree St NW, Atlanta, Georgia, United States
That entire building was built to test computer (mainframe) applications before they went into production.. I spent many, many, many weekend nights (24-48 hours without sleep) making sure applications ran successfully (in the test environment) before additional months of testing were successful before going into production..
Too, too funny.. :-)
Sandbox upgrades aren’t always accurate tests. I know of more than one rollout that learned the hard way they had stuff hardcoded to reference servers in the sandbox.
RE: They upgraded to Windows 10 server edition....
I know for a fact that NYSE uses LINUX servers.
The largest exchange, the New York Stock Exchange (NYSE) Euronext, is run on a Linux system.
As late as 2007, Wall Street exchanges were still largely run on Unix, such as Hewlett-Packard’s HP-UX, IBM’s AIX, and Sun Microsystems’ Solaris. Over the past few years however, Linux crept into this market, showing up first in ancillary systems and then running a few core exchanges.
See here:
http://www.pcworld.com/article/238068/how_linux_mastered_wall_street.html
Bullsh!t.
First, one would never bring the legacy system down during normal business hours - that is normally done on a weekend and really would have been done last weekend due to the holiday, thus giving 3 days for the task.
Second, when ever you are going to bring the legacy system down you run in parallel for a period of time in order to work out any bugs. Running parallel usually lasts an accounting period or a few weeks.
IMO, they were hacked.
Computers are considered to have a 24 month useful life
There is NO DOUBT.
They WERE HACKED..
You NEVER, EVER introduce anything during the weekday within the production environment.
You are spot-on.
Department of Homeland Security blamed both major outages today (NYSE and United) on “bad actors” according to The Blaze News. FWIW
“Unless a crisis situation already exists, no IT manager would ever permit system maintenance to occur in a window where they could potentially impact the end user. This “upgrade” should have been performed the moment they shut down Friday after providing enough time for testing and/or recovery before restarting Monday.”
I worked for a large medical corporation in IT for many years. We had a completely separate system for testing, several in fact.
“We can do it fast, cheap or good... or we can do it on Monday.”
LOL.. Thanks.
The employment rate is 5.9(ish) :-)
The “official” story.....winkwink
I have no bones to pick you with you, youngster. Nor a tatt or pierce too share.. I hated getting pricked. ;-)
I met my first ‘puter in 69. Hp. It kicked my buss uhhh butt :-)
From punch card to paper tape to toggle switch.. Floppy to disk, thumb wheel to cloud,, the tail end is fuzzzy. . :-)
the NYSE incident was not China
the hacking into the federal data base likely was. It was a message being sent for the NSA to stop spying or by DOD to cease spying on the Chinese military.
The message is “ Stop that crap”
I made my last laptop last 8 years and my wife is still going too..
IT has all the latest USB ports and stuff.
Not sure what IM gonna do tho re: WIN 10
What is SOX?
I agree, maintenance should have been done over the 3 day weekend, and shouldn’t have caused issues today unless China hacked it.
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