The Trading Technology 40: Back From the Edge
Concerns about system crashes are overshadowing the low-latency arms race that for years has preoccupied the leading innovators in trading technology.
By Jeffrey Kutler
On the last day of 2012, within an hour of the closing bell, New York Stock Exchange traders were alerted to a technical glitch in the markets order-matching system. The problem affected just 26 stocks and was cleared up within four minutes but that good news was tinged with the knowledge that far worse can happen, and did. ....