EDITOR NOTE: In the last two months, multiple electronic exchanges have been downed due to “operational issues.” The Nasdaq experienced connectivity issues that affected clients; Australia’s stock exchange had a glitch that prompted a trading halt; and Tokyo Stock exchange had to be shut down for an entire day. Whether due to technology glitches, human error, or cyberattacks, there are simply way too many fragilities in any digital network, especially ones handling massive volume. What is the real degree of risk, if you were to give a ballpark percentage figure, to any digital finance network? The answer is that there’s no way to find out for sure. Yet the government and the banking system are trying to advocate the use of digital money over cash, gold, and silver. The risk is not so much to government or banks, but to regular Americans. Unfortunately, that’s something Uncle Sam and banks are willing to overlook for convenience and tighter control.
Nasdaq said it has resolved an issue with connectivity to the exchange affecting some customers.
“The earlier issue with connectivity to the exchange for a subset of OUCH and FLITE ports has been resolved,” the bourse said in a statement on its website.
The problem affected a large share of OUCH clients, the exchange operator said earlier, referring to a service that provides clients with their own dedicated port server in the Nasdaq Data Center.
The Nasdaq is the latest in a string of global exchanges to report operational issues. Australia’s stock exchange in November was forced to halt trading because of a technical glitch, while trading on the Tokyo Stock Exchange’s cash equity market was halted for an entire day on Oct. 1, an unprecedented shutdown. Also in October, Euronext NV shuttered markets for three hours, citing a “middleware” issue for the crash.
Futures contracts on major U.S. equity indexes tumbled as a new strain of coronavirus fueled risk aversion. S&P 500 futures slumped as much as 3% in early trading Monday, while stocks in Europe also sank.
Originally posted on Yahoo! Finance