How Now Dow Bow

Did yesterday’s trading halt on the New York Stock Exchange signal the final transformation for the storied exchange from a symbol of capitalism to a TV studio?

Almost four hours of no trading and yet the other exchanges and “dark pools” picked up the slack fine with strong volume numbers.

Is it time the NYSE to take a bow? I assume ICE (Intercontinental Exchange) the NYSE owner, who didn’t see the need to roll over to a backup system, feels the same.


There are no coincidence in life, it’s said.

So when the New York Stock Exchange, which houses the Dow Jones industrial averageĀ  and Dow Jones’ Wall Street Journal website, well I am skeptical that these are random acts.

Even though the two Dow entities have nothing to do with each other from a business perspective, how would a foreign hacker know that?

They both have Dow Jones associated with them. The fact that the website Zero Hedge was hit with a DOS (denial of service) attack doesn’t surprise me either, since that site is very critical of China and all economic announcements from the government including Tuesday and Wednesday’s government intervention into the market to stop the indices from crashing.

United Continental was probably a one-off since they have been having integration issues since the merger was approved.

Maybe five years from now the SEC will come out with a little noticed report saying it was a fat-finger trade from Shanghai that knocked the stuffing out of NYSE. Maybe?

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s