Supposedly there was enough redundancy outside of NYC to prevent an event hitting NYC to shut down the financial markets. What's the deal now? We lose a trading day because of possible big flooding in lower Manhattan? NASDAQ is in CT. NYSE Arca is in Mahwah, NJ. Why can't trading open? Where did all that redundancy go & those secret locations where trading can keep going? What garbage to shut it down.
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Looking at this article http://www.foxbusiness.com/industri...ver-nyse-contingency-plan-changes-considered/ it seems that quite a few firms complained about NYSE going to all-electronic, due to their systems not being ready for that.
That's garbage. Firms have multiple routing. They may make MORE by sending their orders to the floor, but that's their problem & shouldn't cause the entire financial market to shut.
what if you lose connection to the markets and your a big firm. the idea is for the markets to run orderly and not be at the mercy of an act of god.
Understand and agree with your feelings. But...given the public's current worries about electronic markets, HFT, flash crashes, etc., best not to take any risks when folks aren't at their desks to handle problems.
I agree, this is so retarded. the market is so important that NOTHING, not even a nuclear bomb or asteroid, should be able to shut it down. and definitely not a storm FFS!!
No power in the northeast duh I bet you would have been the first ****** to post that you lost connection and could not get out of a trade.