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At 01:10 PM 1999-06-10 -0400, I4Lothian@xxxxxxx wrote:
>In a message dated 6/10/99 11:43:16 AM Central Daylight Time,
>MPST@xxxxxxxxxxxxx writes:
>**** Being a broker, and offering electronic services, I can't say that I
>appreciate the horsewhipping stuff. :-) But, if traders want to forgo the
When everything is electronic, this feeling will be less severe I think.
For my local stockmarket, if they are down, don't remember such a time for the
last couple of years, its fair. Cos everybody can't trade too :-).
>reduction in costs part, we can have a bunch of backup runners and broker's
>clerks sitting around waiting for action when the computer systems hiccup.
Even this will be redundant in time to come.
>:-) In the old days redundancy was putting in some phone lines from another
>trunk switch, or moving some runners from the other markets not moving, not
>very expensive. Today it is maintaining expensive computer systems and
>networks. Quite a difference.
The CFTC or SEC will in time come up with uptime standards like in other places
at least for the exchange trade matching/clearing system. You guys will be
like
ISPs making statements like, our trading interface systems has had a record of
being operational 99.05 percent during trading hours the last year.
Then there will be a registry for the public to look into like they have
now for arbs,
complaints and stuff.
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