From Business Insider
NASDAQ today published a long and detailed press release about the software bug that caused it to shut down for three hours on August 22nd.
The report is technical but worth a read since it is likely not the last such event we’ll see. After this week’s hacking of the New York Times website by a group claiming to be connected to Syria, a cyber attack on the financial system is an obvious threat the global economy must guard against.
A “confluence of events” exposed a “latent flaw” in the code of the securities information processor or SIP, the method by which NASDAQ sends quotes to other exchanges.
Read more at Business Insider.