Comments on: Sledgehammer

By: Lucio

Lucio — Thu, 29 Dec 2005 05:37:00 +0000

One of the reasons why I do not write regularly is due to the reason u described. Good to know I have company…!

By: Raj

Raj — Fri, 23 Dec 2005 11:15:00 +0000

@shruti: Thanks for digging into the archives.

By: Shruthi

Shruthi — Fri, 23 Dec 2005 08:35:00 +0000

I read Road Rage! And yes, now I get your point

By: Raj

Raj — Fri, 23 Dec 2005 05:38:00 +0000

@shruthi: I dont have the luxury of thinking about abything else while commuting other than figuring out who to kill first. Read my old post titled road rage vol 2 to learn more. I am too lazy to give u a link. But not to worry, I have been and will always find a way to blog no matter how busy i might be.

And, u r welcome.

By: Shruthi

Shruthi — Fri, 23 Dec 2005 05:21:00 +0000

Ohho… maybe you can think up the post in your head during commuting or something, and then write it down at one shot during a little break - that’w what I do most of the time. But yes, sometimes the workload is too much for even that
Anyway.. thanks for blogrolling me
And hope you get to blog more often!

By: Akanksha

Akanksha — Thu, 22 Dec 2005 11:16:00 +0000

ok… mister i am going to point out all d details!

By: Raj

Raj — Thu, 22 Dec 2005 11:14:00 +0000

@akanksha: Actually, it started off as a human error. The computers were just not able to detect the error even though the number of shares in the order were more than the outstanding shares. When another trader tried to cancel the order but that didnt happen either. So it was both a human error as well as a software failure.

By: Akanksha

Akanksha — Thu, 22 Dec 2005 11:08:00 +0000

see i was right it was the softwares fault.. i was just goin to point it out.. ood smbdy else did it bfore me ;P

By: Raj

Raj — Thu, 22 Dec 2005 10:49:00 +0000

@greensatya: Well, you never know when the systems might go wrong. Just because a bug hasn't surfaced till now doesnt mean its not there. But lets hope the systems keep functioning well.

But Nikkei learning from BSE? Not going to happen anytime soon.

But from what I know, SEBI is reforming and i think its on the right track.

As far as UBS is concerned, I have no idea about their activities.

By: greensatya

greensatya — Thu, 22 Dec 2005 08:48:00 +0000

Hmm, so clearly it was the fault of Computers of the Tokyo stock exchange. The security firm tried for 10 mins to cancel the order but it could not.
I wish they learn from our stock exchanges which has been fully integrated by one of our own IT company. The system was put to test on May 17 last year, when the trading was automatically shut down three times.
Incidentally UBS was related then as well, it is said that they were one of them responsible for 517 point crash in BSE. Though UBS managed to revoke the penalty, but it is widely know that they undergo shady activities under the garb of PNs.

I hope our SEBI also becomes as good as our computer systems.
Good article, thanks for posting it.