11/06/2014
Stock Exchange down, hit by power outage
I thought it was the stock exchange of some 3rd World country. This is rare to happen in Singapore. Another one in 50 years incident. MAS is not looking too please and is following up closely with the SGX. The latter is investigating into the cause of this technical glitch that froze trading for 3 hours.
Trading was resumed after normal trading hours, from 5.15pm to 5.45pm for stocks and as for derivative tradings, it restarted at 7pm and closed at 2am. This looks like a trial run to align SGX with the European and American bourses. SGX and local traders should treasure this golden opportunity to trade at the same time as the western bourses, live trading man. Maybe 24 hour non stop trading is in the air.
The media also reported that the SGX invested in a $250m state of the art trading system that was the fastest in the world, running at 100 times faster than the old system or 3,000 times faster than the blink of an eye. Then yesterday it was hit by multiple power supply issues.
My thoughts, maybe it was under utilized as the high speed super computer was designed to run fast and with high volumes. And when the volume is so small there could be a mismatch, that the computer is unable to cope with low volume. This is like driving a Lamborghini on first gear in Singapore roads at 10 kph. Do it everyday and it is going to cause unusual wear and tear and will damage the machine that is made to go fast in free ways.
Anyway SGX is investigating the causes of this outage seriously. My wild guess is unlikely to be the cause. If funnily this is the cause, then they should sell off the super computer and go back to the old ones, if it has not been sold to the garang guni man by now. It would be a case of too good, too fast, too over power for an inactive stock exchange that is too small to match, and shrinking trading volumes. Maybe it is good to slow down and go back to the old system, and not to let the supercomputers take advantage of small and slow retail investors.
Speculation that it was a cyber attack was categorically denied.
Kopi Level - Yellow
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8 comments:
Power outage?
Now this is a real sustainability issue for SGX.
Not the environmental or social impact wayang that redbean wrote about yesterday.
Is OK Is OK Is OK
Don't stre$$ them.
Life is like that lah.
This is actually an example of "good" failure.
Not much harm was done. Regular operation returned swiftly.
Incidents like this enable real-world evaluation of emergency protocols plus opportunities to improve on what's already in place.
Redbean, you panic for nothing lah.
Who said I panic? I am getting a little fun and a chance to write something for you to read? Isn't that great?
...SGX invested in a $250m state of the art trading system that was the fastest in the world,... Then yesterday it was hit by multiple power supply issues."
RB
So? Will the multiple power supply issues make the Sinkie opposition ready to be govt?
If not, will majority (aka 60%) Sinkies dare to vote the PAP out?
Typical PAPig system;
"a $250 million state of the art trading system that was the fastest in the world,"
... but supported by a $250 thousand power supply manufactured by a 3rd world country.
Is it just like our banks?
Multi million dollar salaried CEO talents supported by 3rd world PMET talents running loose in our IT infrastructure.
@redbean:
Yes, you are quite right to wallop the power. Capitalism is a hard game, caveat emptor. If you don't trust something, you should speak out and hammer with (at least) ridicule and scorn.
Click kopi fore redbean!
The Fourth World War will be fought with sticks and stones.
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