Oops......
http://www.bbc.co.uk/news/business-33450731
NYSE Stops Trading
Moderator: Peak Moderation
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raspberry-blower
- Posts: 1868
- Joined: 14 Mar 2009, 11:26
The highly automated Stock Exchanges are vulnerable to not just cyber attacks but also "Flash Crashes." HFT (High Frequency Trading) is also a highly dubious (read downright illegal) form of trading that gives the market makers an unfair advantage. Market makers can "front run" trades - thus forcing prices up or down with phantom trades milliseconds before the actual instruction hits the market.
However the sudden halting of the NYSE at this point seems highly suspect to say the least.
It is not so much the situation in Greece that is the major issue here - it is the collapse in the Chinese Stock Market.
What I suspect has happened is that trading volumes - that have been thin during the market's rise - has suddenly picked up as investors head towards the exit. This "glitch" is quite possibly a "safety switch" to prevent a sudden Stock Market crash
The other possibility is a concerted cyber attack that has deliberately targeted the DJIA. Who was behind it all if that was the case?
However the sudden halting of the NYSE at this point seems highly suspect to say the least.
It is not so much the situation in Greece that is the major issue here - it is the collapse in the Chinese Stock Market.
What I suspect has happened is that trading volumes - that have been thin during the market's rise - has suddenly picked up as investors head towards the exit. This "glitch" is quite possibly a "safety switch" to prevent a sudden Stock Market crash
The other possibility is a concerted cyber attack that has deliberately targeted the DJIA. Who was behind it all if that was the case?
A common mistake that people make when trying to design something completely foolproof is to underestimate the ingenuity of complete fools - Douglas Adams.
