So much for that decision. Something does not add up here. I'm surprised that ICE does not have a hot backup site that would kick in immediately after they lost the main center. Seems they need to go back to disaster recovery training.
very simply this...yesterday the ICE exchange went down!!!....the ICE has no floor to trade out when the electronic exchange goes down...it is all electronic...so, you would have had NO WAY to get out of a position if in one when ICE went down yesterday...if you were in a CME Globex SP trade and Globex went down...then you could trade out on the CME sp pit!!!!!!...there is your answer...BIG time...enough for me...a big lesson was learned yeaterday from the ICE 'meltdown' yesterday...
ICE Participant: ICE regrets Thursday's trading system outage and apologizes for the market interruption. The cause of the outage was the erroneous shutdown of power by a third party to the portion of the Chicago data center housing ICE' systems. All customers in that portion of the data center, including ICE, were affected. Once power was restored, it was determined that restarting systems at this primary facility would allow us to reopen markets sooner than moving to our disaster recovery site. ICE datacenters are fed by highly-redundant power systems employing multiple power feeds, UPS systems, and high-capacity generators. Unfortunately, systems designed to feed power at this capacity without interruption also present a potential threat to human safety. For this reason, municipal code and common sense dictate that an Emergency Power Off (EPO) control be available to absolutely kill power, including backup power, in the event of an emergency threatening human life. These controls, protected with physical protection and labeled warnings, are present within each datacenter suite. On Thursday morning, this control was erroneously activated by a third party. While we have subsequently confirmed that human life was not in danger and are working with the datacenter provider to add to the steps required to invoke this control, we stress that our power redundancy systems are more than adequate and working as designed. Again, our apologies for the market interruption. Chuck Vice President and Chief Operating Officer