Saturday August 31, 2013

Nasdaq Blames Rival NYSE for 3-Hour Trading Outage

After an investigation into the cause for Nasdaq’s outage, the final verdict is in with the company running the Nasdaq had technical problems, but finger pointing at rival NYSE added to the findings for the failure.

"The combination of large system inputs and delayed outputs ultimately degraded the ability of the SIP system to process quotes to an extent that a shutdown of the system was in the broader public interest, to prevent information asymmetry and ensure fair conditions for all market participants."