Wednesday, February 28, 2007

NYSE continues to mop up from glitches

From BusinessWeek:

NYSE continues to mop up from glitches:
"The New York Stock Exchange on Wednesday continued its mop-up from the technical glitches that bottlenecked its trading system and triggered a temporary shutdown of electronic transactions during Tuesday's market plunge.

The Big Board requested that specialist firms -- which match buyers and sellers -- keep their stock posts open after the closing bell. With some 22,000 data requests pumping through the NYSE's servers per second, management at the exchange wanted to make sure all trades were settled properly.

Technicians at the world's biggest stock market worked overnight trying to determine why computer systems were log-jammed Tuesday. Investors encountered delays when they tried to bail out of stocks as a computer malfunction caused the Dow Jones industrial average to plummet 178 points in a minute."
Wow, 178 points in a minute. Makes the Day after Tomorrow look like gradual climate change.

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