Newsletters
News & Information for Technology Purchasers NewsFactor Sites:       NewsFactor.com     Enterprise Security Today     CRM Daily     Business Report     Sci-Tech Today  
   
This ad will display for the next 20 seconds. Click for more information, or
Home Enterprise I.T. Cloud Computing Applications Hardware More Topics...
Neustar, Inc.
Protect your website & network
using real-time information & analysis

www.neustar.biz
Enterprise I.T.
24/7/365 Network Uptime!
Average Rating:
Rate this article:  
Learning from the Nasdaq Outage
Learning from the Nasdaq Outage

By Jennifer LeClaire
August 23, 2013 11:00AM

    Bookmark and Share
The Nasdaq outage, along with recent outages at Amazon, Microsoft and the Apple Developer Network, are stark reminders that we're more reliant on IT than ever, and that the interdependencies between systems can cause a seemingly innocuous technical glitch to turn into a staggeringly expensive outage, said Martin Mackay, NeverFail CEO.
 



It's one thing when Amazon, Google and Microsoft go down. It's quite another when the Nasdaq stock market goes dark.

Following on the heels of the Microsoft Outlook outage and Google's total five-minute blackout, Amazon also suffered a 25-minute outage on Monday -- an outage that could cost the e-commerce giant millions of dollars in lost sales. But what happened at Nasdaq was potentially far more costly.

On Thursday, a three-hour blackout of the world's second-largest stock exchange brought trading to an abrupt stop. According to USA Today, it paralyzed trading in stocks with a combined value of more than $5.9 trillion. Much like Amazon, Google and Microsoft, the outage is still unexplained.

SEC Means Serious Business

Mary Jo White, chair of the U.S. Securities and Exchange Commission, responded swiftly to the outage. She noted that the "continuous and orderly functioning of the securities markets is critically important to the health of our financial system and the confidence of investors." She went on to say that Thursday's interruption in trading, while resolved before the end of the day, was "serious."

"The commission is determined to enhance the safeguards necessary for strong market systems," White said. "As one step, I will work to advance rules that the commission proposed earlier this year regarding new standards for the trading and other systems that are central to the integrity of our markets. I also will shortly convene a meeting of the leaders of the exchanges and other major market participants to accelerate ongoing efforts to further strengthen our markets."

Staggeringly Expensive

We turned to Martin Mackay, CEO of NeverFail, a global IT continuity management company, to get his thoughts on the shut down. He told us the financial risks posed by an outage are almost hard to even fathom.

"Businesses -- like the New York Stock Exchange, the London Stock Exchange and Nasdaq, and transaction clearing houses like Visa, MasterCard or other similar networks -- take extraordinary measures to build redundant systems and checks to avoid downtime," he said. "But no systems are fully immune."

As he sees it, the Nasdaq outage, along with recent outages at Amazon, Microsoft and the Apple Developer Network, are stark reminders that we're more reliant on IT than ever, and that the interdependencies between systems can cause a seemingly innocuous technical glitch to turn into a staggeringly expensive outage.

Identifying Dependencies

"Downtime at big companies makes news, but every company is at risk. Redundant infrastructure is often necessary to avoid outages -- table stakes -- but it's also important to identify risks before they become a problem, and make sure continuity plans will work should a failure occur," Mackay said.

"We should all be working to identify the dependencies that our businesses rely on to run. Having this information and keeping it up to date helps us know where to apply strict change controls, and where to place our bets for business continuity investments," he added.
 

Tell Us What You Think
Comment:

Name:



You have the experience and skills, let an ISACA® certification demonstrate your value. Our certifications announce that you have the expertise and insight to speak with authority. ISACA certification is more than a credential; it's a platform that can elevate your career. Register for an Exam Today.


 Enterprise I.T.
1.   BlackBerry BES 10 Now Hosted
2.   Teaming Up: CIOs, IT Asset Managers
3.   Juniper DDoS for High-IQ Networks
4.   IBM Rolls Out Hybrid Cloud Services
5.   Windows 7 Ends Mainstream Support


advertisement
Backlash Stirs Against H-1B Visas
Debate over foreign workers continues.
Average Rating:
IBM Rolls Out Hybrid Cloud Services
Based on SoftLayer net infrastructure.
Average Rating:
Windows 7 Ends Mainstream Support
But extended support still available.
Average Rating:
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
Researchers Working To Fix Tor Security Exploit
Developers for the Tor privacy browser are scrambling to fix a bug revealed Monday that researchers say could allow hackers, or government surveillance agencies, to track users online.
 
Wall Street Journal Hacked Again
Hacked again. That’s the story at the Wall Street Journal this week as the newspaper reports that the computer systems housing some of its news graphics were breached. Customers not affected -- yet.
 
Dropbox for Business Beefs Up Security
Dropbox is upping its game for business users. The cloud-based storage and sharing company has rolled out new security, search and other features to boost its appeal for businesses.
 

Enterprise Hardware Spotlight
Microsoft Makes Design Central to Its Future
Over the last four years, Microsoft has doubled the number of designers it employs, putting a priority on fashioning devices that work around people's lives -- and that are attractive and cool.
 
Contrary to Report, Lenovo's Staying in Small Windows Tablets
Device maker Lenovo has clarified a report that indicated it is getting out of the small Windows tablet business -- as in the ThinkPad 8 and the 8-inch Miix 2. But the firm said it is not exiting that market.
 
Seagate Unveils Networked Drives for Small Businesses
Seagate is out with five new networked attached storage products aimed at small businesses. The drives are for companies with up to 50 workers, and range in capacity from two to 20 terabytes.
 

Navigation
NewsFactor Network
Home/Top News | Enterprise I.T. | Cloud Computing | Applications | Hardware | Mobile Tech | Big Data | Communications
World Wide Web | Network Security | Data Storage | CRM Systems | Microsoft/Windows | Apple/Mac | Linux/Open Source | Personal Tech
Press Releases
NewsFactor Network Enterprise I.T. Sites
NewsFactor Technology News | Enterprise Security Today | CRM Daily

NewsFactor Business and Innovation Sites
Sci-Tech Today | NewsFactor Business Report

NewsFactor Services
FreeNewsFeed | Free Newsletters

About NewsFactor Network | How To Contact Us | Article Reprints | Careers @ NewsFactor | Services for PR Pros | Top Tech Wire | How To Advertise

Privacy Policy | Terms of Service
© Copyright 2000-2014 NewsFactor Network. All rights reserved. Article rating technology by Blogowogo. Member of Accuserve Ad Network.