Tuesday, February 12, 2013

Stock market and Cyber attacks!


You probably agree with me that the stock market is not exactly a model in terms of evolution controlled. The New York Stock Exchange (NYSE) is the latest to have lived a chaotic Monday. The volume was low that day because of its 216 trading 3825 shares was suspended. Indeed, the motor trading Exchange not working properly. Trading engine seems to be something complicated. One can imagine that it might fail. But the boundary between technical complexity and incompetence is subtle. Transaction volumes and high frequency put more pressure than ever on the hardware that manages exchanges in the world. This is an arms race. And exchanges cannot keep. There is also the problem of attacks on the Exchange since places like 'Partisan' and 'Siberia'.

These are not real places of course. But it is logical that we highlight here. Anyone with a keyboard, modem and computer skills can target the stock market or individual for malicious purposes. A man has been jailed in Hong Kong for conducting an attack distributed denial of service (DSD) on the news website of the Stock Exchange of Hong Kong. DSD in an attack, the server maintains a website is overwhelmed by so many requests at the same time it stops. There was not any site. This was when ads are published sensitive price changes. The stunt Tse Man-lai was forced to stop the Exchange trading of eight titles including HSBC. You cannot have a regulated market where some investors have access to information that could affect the prices and other cannot. The attack was totally a publicity stunt because Tse runs a company of cyber security software product anti-DSD. He took screenshots of the website after the attack, hoping to use for future marketing campaign. Its purpose was to show how much damage an attack could cause DSD your business and the importance of having the right software protection.

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