• 04 Oct 2013 at 2:48 PM

Technological Ineptitude Goes International

The latest exchange SNAFU announcement has been made with a British accent. Unfortunately for the Liffe, it’s the one part of Euronext that the IntercontinentalExchange and its crack technology department, the New York Stock Exchange, is keeping. Read more »

Maybe this is how Gary Gensler goes out with a bang? Read more »

Everything will be fine so long as Superstorm Fanny and the second Great Chicago Fire do not happen simultaneously. Read more »

Commence the groveling! Read more »

The future Museum of American Capitalism.

Hurricane Sandy claimed many victims. Will the New York Stock Exchange’s floor traders be among them?

The Big Board doesn’t like to close, even for the worst natural disaster to hit its hometown in recent memory, one that destroyed the certificates nominally traded on its floor even if didn’t flood NYSE’s own basement. So it’s drawing up plans to avoid having to during the next catastrophe. And that plan doesn’t involve open-outcry trading.

Of course, NYSE says it will never give up its two-century-plus old system. But it will be making those floor traders potentially redundant. And it’s never good to be the last of any legacy business. Read more »

The IntercontinentalExchange really, really wants the Liffe. Oh yea, and the New York Stock Exchange, too. Sure. But it’s really, really worried that those damned antitrust bureaucrats are going to screw them, as they are wont to do.

So they’re laying the charm on thick. Perhaps, however, we might be so bold as to suggest a new tack: Read more »

  • 09 Jan 2013 at 6:18 PM

Exchange Follies: Consolidated Tape Edition

Just weeks after telling Congress that doing their jobs has become too damned hard, the stock exchanges are providing more evidence.

This time, the problem is the consolidated tape, which provides trade data. Seems it went out for about an hour at the New York Stock Exchange yesterday, making it tough to see in anyone had traded in 165 unimportant securities like State Street Corp. stock. And NYSE’s snafu follows a consolidated tape screw-up at Nasdaq last week; while NYSE’s server error only messed with some of its stocks, Nasdaq’s consolidated tape feed went totally blank on Thursday. Read more »