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...
GET RECOGNIZED.
Let an ISACA® certification
elevate your career.

Register today and save
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:



Salesforce.com is the market and technology leader in Software-as-a-Service. Its award-winning CRM solution helps 82,400 customers worldwide manage and share business information over the Internet. Experience CRM success. Click here for a FREE 30-day trial.


 Enterprise I.T.
1.   Windows 7 Ends Mainstream Support
2.   Another IE-Focused Patch Tuesday
3.   BlackBerry's Hip To Be Square
4.   Gartner Rates IT Security Companies
5.   Google I/O Brings a Lot for Biz Users


advertisement
Windows 7 Ends Mainstream Support
But extended support still available.
Average Rating:
Another IE-Focused Patch Tuesday
One critical for Internet Explorer.
Average Rating:
Gartner Rates IT Security Companies
IBM, HP, McAfee, Splunk ranked well.
Average Rating:
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
Another Month, Another IE-Focused Patch Tuesday
Microsoft rolled out 59 vulnerabilities for Internet Explorer in June. But the IE-patching party is not over yet. Redmond published six new security bulletins on Tuesday; two, critical; three, important.
 
Russian Arrested in Hacking Case Filed in Seattle
The U.S. Secret Service has arrested a Russian man who is accused of hacking store computers to steal thousands of credit card numbers, charging him with bank fraud, identity theft and more.
 
More Than Half of Networks Not Ready for Internet of Things
Most enterprises are prepared for the IoT and see its business potential. But the reality is that there may not be enough network capacity to handle the increased demand in connected devices.
 

Enterprise Hardware Spotlight
Another Day, Another Internet of Things Consortium Is Born
In the emerging Internet of Things, zillions of devices will be talking to each other. Samsung, Intel and Dell just formed a consortium to ensure each thing can understand what others are saying.
 
Gartner Sales Study Sees Tablets Up, PCs Down but Recovering
Are PCs on the comeback trail? That depends on how you define "comeback." While tablet sales remain strong, Gartner's latest study found PC shipments aren't dropping as fast as they did last year.
 
Review: Warming Up to Tablets with Keyboard Covers
If you've ever thought tablets with keyboard covers were just a poor excuse for a laptop, think again. Nokia's Lumia 2520 comes with an optional keyboard cover that just may change your mind.
 

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 | Small Business | 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 | XML/RSS Feed

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.