The NASDAQ stock exchange suffered yet another glitch yesterday, forcing it to halt trading in derivatives contracts linked to the Nasdaq 100 index. The latest in a series of hiccups at the all-electronic exchange was caused by "a human error", the exchange said in a statement. The snafu took out the Global Index Data Service …
What other errors are there then. Gods errors, too offending for some and not proved by some others. Natural errors sound unnatural. Instrument errors, a company not accepting any responsibility as that human was not working for that company. Odd errors, acts of god, sorry, very popular among insurance companies. Help me out. Anyway, a human error run stock exchange is more dangerous than nuclear weapons and it will always be like that no matter how convenient it sounds with "computer error". Snafu and glitch sound good too. I had a snafu caused by a glitch, born error.
When you attempt to have sub millisecond latencies...
You have to cut corners. No way around it.
If they had standardized on one second trade resolution (all the trades take place AT the second tick) they could have built a better system. The problem there would be that the "high frequency traders" would be left in the dust looking for penny differences that weren't there.
Probably be better for all of us.
I do have some bias in this comment, but I'll just leave it at that.
*ducks to avoid downvotes*
What's Nasdaq currently running on anyway? Come on El Reg, give us what we want to know and have a massive fight about!
Steven 'troublemaker' Raith
> Any link?
Wonder how long that is going to stay up ...
What could possible be wrong with an exchange Bernie Madoff help set up?