Nordic stock exchanges down because back-up failed after fire alarm

You do not need Russian or Chinese hackers to close down critical networks like stock exchanges, only careless planning…

The Nasdaq stock exchange was closed down for 5 hours on Wednesday 18.4.2018 after the fire extinguishing system that was meant to protect the main network computers was suddenly activated by a fire alarm and critical parts of the computers were destroyed. The system uses high pressure gas to extinguish fire, but the shock waves from the sudden injection was so powerful that the network equipment was damaged beyond repair! 

The back up system also failed to start up for the same reason. It took 5 hours to get it up and running again with all morning trades being cancelled with huge losses.

Networks are not meant to fail and back up systems are meant to operate when the main system fails… 

So much for Nordic brilliance in digital affairs! 

If the Nordic Stock Exchange cannot guarantee error free operations then what about our banks, other companies and the government. They all use the same advisors, contractors, equipment and software…

… and then there is the small detail that the operation of the network was outsourced to a third party whose name has not been published. I suppose they will be sued and pay out because they have outsourced their risks to an insurance company!

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