Bursa's reasons for trading halt
UPDATED VERSION. We know the what, now let's see the how and why.
ONE: According to The NST, that culprit that paralysed Bursa Malaysia to an all-day trading halt, the worst systems breakdown in its history, was a faulty computer hard disk.
TWO: According to Bursa Malaysia chief information officer (CIO) Yew Kim Keong, its trading hardware is supplied by Hewlett-Packard Co.
THREE: According to Bursa Malaysia CEO Yusli Mohamed Yusoff, his company lost an opportunity cost of about RM450,000 in potential clearing fees yesterday, based on the average value of RM1 billion of stocks traded for the last two weeks.
Moving forward, Bursa hopes to launch a new equities trading system in the next two months. The vendor is US-based Atos Euronext Market Solutions Ltd. Trial runs will start in the coming weekend.
Was the confidence of investors seriously impaired? Read here.
UPDATES: As at 2:46pm, KLCI slipped 33.24 points to 1,120.46 with thin volume traded of 3,195,127 lots. Losers led losers 661 by 86. Unchanged 103.
Comments
and another 30-point loss of KLCI... ;)
By the way... does that mean I should throw away my HP laptop? :(
Posted by: bentoh
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July 4, 2008 12:15 PM
Dear Mr. Yew,
Have you heard of RAID? I find it hard to believe a corporation as big as HP does not use RAID for their hard drives. Even if more than 1 drive were to fail in that RAID pack, I'm sure Bursa should have a disaster recovery plan setup, no? or are these technology too 'advanced' for bursa?
Posted by: phileos
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July 4, 2008 01:52 PM
ATOS people who I knew are bunch of [ DELETED - DEFAMATORY ], and I personally stopped using HP (Highly Problematic) products long ago. With deadly combination of stupid solution provider + problematic hardware = recipe for disaster.
Maybe they will crash the upcoming Olympic system too.
Posted by: undead1
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July 4, 2008 02:43 PM
Hahahahahaahahahaahah
It took them more than 8 hours to brew a story of "disk corruptions".
Woot, are we living in 1980?
An enterprise disk array will run on RAID 1+0, and again, this whole array can MIRROR again to YET another disk array, using Gigabytes fiber connection.
In short, in 1980, 1 disk bring down whole system does happens.
When BursaMalaysia are running tens of millions IT budget, the above mentioned setup mean 1 chunk of data are actually on 4 set of disks. We can call it RAID 110 or RAID 1+1+0.
It seems YKK take the whole issues lightly when he issue that statement. According to wikipedia, HP2007 revenue are US$107 billions. A hard disk bring down KLSE is a SERIOUS PR problem that will hurt HP billions dollar High availability/Fault Tolerance(HA/FT) server business. If this news find way into slashdot , HP US headquarter will slam their hammer on HP Malaysia.
Because IBM,Dell,Sun,NEC, etc will take this as thesis to compete with HP HA/FT server.
So don't expect the whole "hard disk bring down KLSE" will stop there.
I will keep my finger crossed.
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dear undead1,
Seems you have some personal agenda. After IBM exit the hard disk business, none of the big 5 computer firms make hard disk. And if BursaSaham really using a HA/FT server, there will be enough disks to cover up the a disk failures..
Posted by: moo_t
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July 5, 2008 12:12 AM
hp, su*ks. flexible but confusing, not as straightforward as mr dell.
hmm.....maybe it is a major hardware failure but harddrive failure? isnt tat weird? a company dealing with billions worth of stocks, but with no drp, no backup system and no hardware replacement? first thing they should do is to sack the CIO.
Posted by: lovehurts
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July 5, 2008 08:54 PM
Dear moo_t,
Yes, I have a personal agenda: stop consumer and corporate from using HP for their own good. I have been doing it for a while.
JEFF OOI says: Gee... My wife, my 11-year-old and myself are using three notebooks made by HP!
Agreed on your RAIDs comment, I am sure they have all the hardware setup that we can imagine, maybe somehow the panicked in executing their own BC process. They also did however, mention 'data integrity' issue, which might means the whole solution itself.
Posted by: undead1
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July 8, 2008 01:49 PM
JEFF OOI says: Gee... My wife, my 11-year-old and myself are using three notebooks made by HP!
I pray you have a good backup system and practice the actual recovery =) (unlike BURSA)
JEFF OOI says: My wife and I have the recovery discs safely kept, and we each travel with a Buffalo external HD for data back-up. The rest are on web storage. Despite all these we are still paranoid of the unknown.
Posted by: undead1
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July 8, 2008 02:07 PM