US markets crippled by Nasdaq outage, Nasdaq traders...

 
 
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Friday August 23 2013
 
 
FT Trading Room
 
US markets crippled by Nasdaq outage
 
It is highly unusually for one of the US major exchanges and home to many of the country's largest companies to halt trading, let alone for such a period of time
 
 
 
Nasdaq traders roll with technical blows
 
Exchange's response indicates lessons learnt from Facebook debacle, while traders coped by moving swiftly on to other platforms
 
 
Nasdaq mishap puts SEC in spotlight
 
The industry has pushed back against a proposed rule to require big market players to regulate systems that are integral to their operations
 
 
Q&A: Algorithms
 
The lifespan of an algorithm is short, as rivals work out its properties, and developing codes to stay ahead of the game is hard work and costly
 
 
Everbright mishap signals wider problems
 
Fierce competition, a stall in IPOs and tougher regulation are driving China's brokers to take riskier, more sophisticated investment banking business
 
 
17-minute glitch threatens Goldman's image
 
A trading malfunction led the bank to purchase at least 800,000 contracts, but officials are studying whether the bank can cancel the erroneous trades
 
 
Goldman should take glitch hit, says Scholes
 
Call by Myron Scholes to force brokers to accept losses from erroneous trades rather than cancel them follows a large trading error by Goldman Sachs
 
 
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