NYSE tech issue impacts some stock values, exchange incorrectly shows Berkshire Hathaway down 99%

[ph1l]

What a clown show. You would think an organization like this would have multiple independent internal safeguards to prevent a scenario like this.

Where were the circuit breakers?

NYSE blames the Consolidated Tape Association.
https://www.cnn.com/2024/06/03/investing/new-york-stock-exchange-technical-issue/index.html

Instead, an NYSE spokesperson said there was a “technical issue” with industry-wide price bands that “triggered” trading halts on up to 40 symbols listed on NYSE Group exchanges.

NYSE noted that those price bands are published by the Consolidated Tape Association’s (CTA) Security Information Processor (SIP). CTA, an industry group, is responsible for publishing real-time trade and quote data.

CTA said it experienced an issue that “may have been related to a new software release.” To fix the issue, the industry group said it relied on a secondary data center operating on the older version of the software.

The Consolidated Tape Association says
https://www.ctaplan.com/alerts#110001121105

CTA SIP Issue - June 3, 2024 - POST MORTEM
June 4th, 2024 9:22 AM

On June 3, 2024, after the 9:30 AM market open, SIAC became aware of reports of erroneous Limit Up Limit Down (“LULD”) pauses in numerous symbols. SIAC determined that these pauses were the result of incorrect LULD price bands published by CTA, caused by a software release effective for the start-of-day June 3, 2024. SIAC failed over CTA from the Local Data Center (“LDC”) to the Remote Data Center, which was still operating on the previous software release. The failover started at 10:25:08 AM and completed at 10:26:37 AM. SIAC rolled back the software release at the LDC on June 3, 2024 and resumed operations out of the LDC for the start-of-day June 4, 2024. The LULD price bands for the following symbols were impacted: CTS Symbols with Erroneous Price Bands

During the failover, Participants would not have been able to submit quote and trade messages to CTA, and multicast data dissemination was unavailable.

Or, in simpler terms

 

[poopy]

Jesus, sht happens. Someone was on here ready to tar and feather Schwab bc he forgot to sign his quote agreement (delayed).

It's been a long time since the Knight and Flash Crash debacles. You people need to find hobbies.

 

[piezoe]

blame Putin?
blame Iran?
blame AI ?

The U.S. is a prime focus of external cyber attacks plus both internal and external social media disinformation campaigns. There can be no question about this. And now add Israel to the external disinformation threats! Israel's radical right government is not our friend. The sooner we come to grips with this the better.

In the end, and the end is coming sooner than anyone six months ago would have been likely to guess, Russia will be forced to vacate all or nearly all of Ukraine. Putin will have driven the Scandinavians and the Ukrainians into the arms of NATO. Orban will look like a fool to those outside of Hungary. Erdoğan will look somewhat less of one, having more skillfully navigated the treacherous waters of diplomacy between the Europeans to the West and the Russians and Chinese to the East. China will put off any thought of invading Taiwan.

I have said over and over again in these forums that it will be impossible for Russia to win its war with Ukraine for exactly the same reason the U.S. could not win in Vietnam despite vastly superior military might. Mr. Putin will of course fight on despite the futility of doing so. Meanwhile many innocents will have died needlessly, thanks to the insanity bred of human nature and autocratic government.