Nuisance:
"But two days later, on Thursday evening, some 275 Project A workstations in Paris, Tokyo, London and the United States were knocked out."
Contingency Planning:
"The CBOT's electronic system had no similar backup [phone] carrier, though it might in the future ..."
=========================================================
Chicago Tribune has a great, in-depth article about the MCI - CBOT fiasco ...
CBOT pipes up about MCI WorldCom Network Outage
By Greg Burns
Tribune Staff Writer
August 11, 1999
The Chicago Board of Trade on Tuesday blasted MCI WorldCom Inc. for bad service after a technical glitch lasting nearly five days took down its global electronic-trading system for corn, soybeans and U.S. Treasury bonds.
CBOT President Thomas Donovan called it "a catastrophic outage."
MCI restored its data-transmission service Tuesday, and the exchange's Project A system went back into service at 2:15 p.m.
The data network problem affected nearly 30 percent of the financial institutions and other companies that use it, a spokeswoman for the No. 2 U.S. long-distance carrier said Tuesday.
A small number of Cash Station Inc.'s 7,000 automated teller machines were affected, though only slightly, a spokeswoman said. The outages were intermittent, because each ATM has a backup line with another phone carrier that reconnects it if the primary carrier goes on the blink, the spokeswoman said.
The CBOT's electronic system had no similar backup carrier, though it might in the future ... [MORE - VERY INTERESTING]
chicagotribune.com
Do you believe this???
Didn't media hype a couple of weeks ago, how financial markets are 99% ready for Y2K???
Oh, I forgot ... except for possibility of electric grid or telecom failures ... which are beyond our control ...
LOL - Wonder if they have back-up generators?
Cheryl :-) |
