[tpark]

A couple of things.

1) Why isn't the failure of CME GLOBEX big news? You would think that a system failure of this magnitude would be on all the financial websites.

2) If they shut down their highly reliable triple redundant system to save some asses, what else are they capable of?

3) what sort of horrific event were they trying to stave off, and what prevents this from happening at a later date?


Inquiring minds wish to know.

[realist]

Nice Avatar. The only thing that I could comment on the situation today is that it is quite suspicious. I can understand a communications problem in the network as this happens from time to time. However a major server malfunction is a story that I do not buy. These systems are engineered to have highly reliable fault-tolerance mechanisms and several real-time mirroring systems that provides backups of trade executions in real-time as primary systems always do. No trading platform is flawless but I am not sure where all of the ES and NQ traders will go without CME though. I suppose they will tough it out.

[alceringa]

Don't forget that CME is now a publicly traded company that derives a significant portion of its revenue from paid subscriptions for their real time data feeds.

The service outage was probably highly more irritating to the folks that pay for the information than the freeloaders who get the time delay stuff.

It's not big news because in the grand scheme of things its like a flea bite on an elephant. Most traders probably didn't even notice the outage, especially those that get their real time data from other sources.

Here's the latest from the GLOBEX web site-

Quote

GLOBEX® Market Status

For the trade date of Friday, May 2, GLOBEX equity markets re-opened as scheduled at 3:45 p.m. C.T. on May 1, with the exception of the E-mini S&P 500®, which opened at 6:15 p.m. Interest rate and foreign exchange products opened at their regularly scheduled time of 4:30 p.m., with the exception of Mexican peso, which opened at 5:00 p.m.; Canadian dollar, which opened at 6:00 p.m.; and Swiss franc, which opened at 7:04 p.m.

[Quicktrade]

tpark, on May 1 2003, 06:16 PM, said:

A couple of things.

1) Why isn't the failure of CME GLOBEX big news? You would think that a system failure of this magnitude would be on all the financial websites.

2) If they shut down their highly reliable triple redundant system to save some asses, what else are they capable of?

3) what sort of horrific event were they trying to stave off, and what prevents this from happening at a later date?


Inquiring minds wish to know.

This failure was widely reported. Even if it was done on purpose you have to understand that this type of thing has been going on from the beginning of time its just part of the way human nature is. Life aint fair and someone is always trying pull a fast one. So, a trader in the stock market should expect and anticipate these things. For what its worth , I kind of think it was done on purpose. So what! In the long run it won't change anything.

What else are they capable of ?

Just about anything you could amagine.

What sort of horific event were they trying to stave off ?

It's no secret around here, a " Market decline". The economy is in deep deep trouble and the economic stats are starting to come out showing it isn't in a recovery. The big boys control these markets to a certain extent and right now they are just positioning themselves for the next decline but before they let it go they are going to use every dirty trick in the book to draw in fresh money so they can lay off some inventory on the unsuspecting.

Nothing will ever prevent this type of thing from happening at a later date as long as man can be bribed.


Quicktrade

[ThorAss]

The boyz will do what it takes to make themselves money. You're in their world now and you can't know in advance of their trickery. However, you can use the knowledge of their pattern of play to your advantage and work it into your overall trading strategy..