Feeds

US stock markets unveil new IPOcalypse-BUSTERS to watchdogs

New rules to help combat IT glitches in share trading

Intelligent flash storage arrays

US stock exchanges have said that they’ve figured out how to help stop technical trading glitches, following orders from regulators to come up with new rules after trading on the NASDAQ ground to a halt for three hours in August.

Market operators including NYSE Euronext and NASDAQ OMX said they had agreed on certain proposals and put together a timetable for implementing changes that will help to protect their IT infrastructure, including securities information processors (SIPs) and the mechanisms for IPOs.

The NASDAQ has suffered through a number of trading hiccups in the last year or so, including the trading outage in August, another at the end of last month and, most famously, the Facebook IPOcalypse, when problems with its systems stopped some trades in the new stock from being properly recorded and delayed others.

The Securities and Exchange Commission ordered the markets to come up with reforms to counter future problems in a meeting in September. The SEC said it wanted to see operators install a kill switch common to all of them to stop trading during glitches and better testing and disaster recovery for SIPs.

The exchanges didn't give out any details about the proposals, saying that they would be revealed in future filings with self-regulatory organisations and would be subject to approval from the SEC.

SEC chair Mary Jo White told the annual meeting of the Securities Industry and Financial Markets Association in New York that the commission and the operators had “made very good progress”, Reuters reported.

"Our objective has to be zero tolerance [on errors]. I think we all know that technology is never going to be perfect," she said. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.