BLUFA junior employer who failed to shut down the servers running The NYSE (New York Stock Exchange) resulted in a significant fluctuation of prices among some company shares—these companies are now likely to seek compensation.
This article by Ryan Hogg, writing for Insider, makes these points about the flow on effects to the NYSE when a technician failed to shut down a backup system properly:
- The NYSE had to halt trading of several stocks for 15 minutes.
- Around 250 stocks were affected, with shares beginning at unusually high or low prices.
- The cost to brokers and retail traders is expected to be significant.
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References from the Web :
- JAN 2023 Data Center Backup Failure Blamed on 1 Person, not NYSE Leadership – Data Centre Knowledge
- JAN 2023 NYSE glitch leads to busted trades, prompts investigation – Yahoo finance
- Article Source: Insider
- Media Check: Insider - Media Bias Fact Check (mediabiasfactcheck.com)
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