I have been a big fan of globex but today's unbelievable outage, affecting not just the ES but all globex products, demonstrates that they are either criminally negligent, incompetent or possibly corrupt. I include corrupt as a possibility because there are powerful forces within the CME that would like to see globex fail and return to an all floor based system
Assuming that the explanation is simply some kind of technical glitch, one has to ask how can it go on all day? Even QCharts has alternate server farms and backup facilities. Do you mean to tell me that globex isn't able to switch over to a redundant network within seconds? Or maybe they could but it would inconvenience the floor trade? Who knows what the true answer is, but I think they have demonstrated they are way too irresponsible to be allowed to run these markets. This sorry episode should be investigated by Congress and the CFTC, not that either of those toadies will do a damn thing.
Eurex, thousands of customers await you here. Hurry up.
Assuming that the explanation is simply some kind of technical glitch, one has to ask how can it go on all day? Even QCharts has alternate server farms and backup facilities. Do you mean to tell me that globex isn't able to switch over to a redundant network within seconds? Or maybe they could but it would inconvenience the floor trade? Who knows what the true answer is, but I think they have demonstrated they are way too irresponsible to be allowed to run these markets. This sorry episode should be investigated by Congress and the CFTC, not that either of those toadies will do a damn thing.
Eurex, thousands of customers await you here. Hurry up.
