What would have made sense would have been for them to cancel all open orders at that time instead of fill them. It does seem a bit fishy that they would receive thousands of calls and e-mails, etc from angry traders saying they couldn't cancel their orders and then opt to fill them all anyway.
the US government runs the markets. it's messenger boy/proxy is golden slax. fishy? nothing fishy. it is business as usual. didn't you know?
Something similar occured at the BATS exchange. THIS ALSO WAS A DESIGN ISSUE likely caused by outsourcing. Bottomline: You can't hire an army of gorillas to design a better system that could be designed by a handful of really smart people...i.e. Americans. But it's all about keeping payroll costs low today. Cause and effect.
that could be designed by a handful of really smart people..i.e. Americans. you mean designed by a team of immigrants or children of immigrants residing in america. cry me a river.
"Just the facts, Ma'am". Oh, and you'd have to hold a gun to the head of the CIO to get him to admit to this. Corporations love to hide their "dirty laundry".
With all the criminal activity happening on wall street, murderers and rapists must be having a great time.
Right... the criminals investigating the criminals... That is why so many Banksters are in jail... Free John Corzine... Doh!
Funny. But what should be investigated is how did all of those lawyers convince lawmakers there was a shortage of American IT personnel ? Just has to be the biggest lie in history.
A little more fuel for the fire: http://finance.yahoo.com/blogs/dani...everal-months-ago-secondmarket-134457488.html :eek: