6/15/2015

SGX – Smart computers and super computers


Computers are smart. If not we would not be paying millions or hundreds of millions for them. We don’t expect computers to make mistakes, only human make mistakes. When computers made mistakes, it is either that they are programmed with mistakes or input with mistakes, GIGO.

The latest fiasco by SGX, sending investors CDP statements with errors in the number of stocks they have or did not have, is a grave error. 1% of 460,000 investors means 4,600 would have received error statements. And the nature of such errors is like banks sending monthly statements to their clients showing their deposits, more or less, could be a very harrowing experience. Some may die of shock if seeing their millions disappeared, or died from disbelief when a few millions appeared in their statements.

A mistake like this in the banking industry is a cardinal sin. It is also no small matter in the stock broking business. The stocks are money in another form and people can also die from shock when the differences are huge and unbelievable. And if it is a number game, the plus must come from somewhere, and the losses must go to some where, it is a vicious circle to unentangle. Where would the disappeared stocks go to or the increase come from, from whose accounts to whose accounts?

How could it happen? The errors must be due to some input, deliberate or otherwise, through a modification in some programmes or data entry. Given the fact that so many people are affected, it is likely to be a programme or system error, and a new one. Or it could be the deliberate act of someone or some maleware in the system. A human error due to negligence is likely to affect very few people. When more than 4 thousand people are affected, it is no small matter, not likely to be due to negligence or carelessness of an operator.

Hope SGX is on top of this problem and could rectify it fast.

7 comments:

Virgo49 said...

Wah received my statement.

Got many many shares in portfolio than do not belongs to me!

Can claim finders keepers???

SGX Chiefs, care to confirm??

Tks

Anonymous said...


Talking about SGX.........

Hahaha....................

Anonymous said...

SGX still does not believe it is the joke of the century.
All the exchanges in the region are doing roaring business except SGX.
And it is claiming everyday that it is the most connected and best exchange in the region to do business.
What else is it going to claim next?

ℳatilah_$ingapura said...

@ RB:

Computer errors are rare. But when they do fail, the results can be catastrophic. That's a fact.

We live in a hardware, software driven world. Everything in modern society depends at some point on computers. Your watch has software. You turn on the light or tap---all that control and distribution is software. You buy from shop, barcode gets scanned and you use plastic to pay. You drive, you kena ERP. Your license expire, you get notice. You pay fine, you use machine....and on it goes.

How many times do these systems fail? Very rarely lah. But when they do, you will notice IMMEDIATELY :-))

Dun worry lah RB, software very robust lah. UNIX and Linux (the OS's which run the whole planet, and our shit in space as well as Android and iPhones) are super robust lah. Occasionally got glitch, and we all kena hatam. But by next day, everything OK again.

There is no way to enjoy the level of wealth and convenience modern living provides without software, which is only limited by the processing power of the hardware available at the time. Now we have very cheap killer hardware. Therefore the software which runs can do many "wonderful" things---like stream the dirtiest porno to your phone, or order an overnight fuck online, as well as transfer money to your mum or kids---using the same app---your browser. Damn convenient lah! :-))

Anonymous said...

Could some IT guys be transferring the shares into their own designated accounts?

ℳatilah_$ingapura said...

@ 1154:

Yes. But chances are they will be caught. Will some get away? Of course. Sometimes thieves get away---whether they are pick pockets, or shop lifters or burglars.

Anonymous said...

"SGX still does not believe it is the joke of the century."
June 15, 2015 10:09 a.m.

Personally I was hoping our PAP government would continue to appoint yet another Alien to be CEO of SGX.
Best way to show up how bad the pro Alien policy is ... best way is to let SGX go to hell in a hand basket with an Alien as the CEO.
How else to convince the daft 60% that PAP's Pro Alien policy is leading us down the road to ruin?

Same with SMRT and NOL and the paper generals.
We just have to let these companies go to hell in a hand basket with paper generals at the helm as CEOs.