So, as of late, retail traders have been experiencing system outages, from there Online brokerage firms. We personally have experienced two occasions with two different Online brokerage firms we deal with. And luckily they have been on two different days and times.
As a Retail Trader, your business is depends on the continued reliability of the Internet infrastructure. We receive and process trade orders through a variety of electronic channels. Our online trading services are heavily dependent on the integrity of the systems supporting them.
However, you ever read your brokerage statement on the it's Internet Infrastructure?
Standard Practice Statement in an Online Brokerage Agreement.
Well.
“Our disaster recovery planning cannot account for all eventualities. In addition, extraordinary trading volumes could cause our computer systems to operate at an unacceptably low speed or even fail. While we have invested significant amounts to upgrade the reliability and scalability of our systems, there can be no assurance that our systems will be sufficient to handle such extraordinary trading volumes”.
This what we do, how are you going to tell us your systems are unable to handle “extraordinary trading volumes.”
“Our systems and operations, including our Web servers, and those of our third-party service providers are vulnerable to damage or interruption from human error, sabotage, encryption failures, break-ins, intentional acts of vandalism, earthquakes, terrorist attacks, floods, fires, power loss, telecommunications failures, computer viruses, computer denial of service attacks or other attempts to harm our systems and operations, and similar events”.
Sure there are natural causes, with a grain of salt, as well
Moreover,
Internet infrastructure may be unable to support the demands placed on it if the number of Internet users continues to increase, or if existing or future Internet users access the Internet more often or increase their bandwidth requirements. In addition, viruses, worms and similar programs may harm the performance of the Internet.
The Internet has experienced a variety of outages and other delays as a result of damage to portions of its infrastructure, and it could face outages and delays in the future. These outages and delays could reduce the level of Internet usage and our business could be materially adversely affected.
This includes maintenance of a reliable network backbone with the necessary speed, data capacity and security for providing reliable Internet services.
Financial Losses are not an option in our business, sure you can have a backup plan for a Earthquakes, Floods, Fires. Where is the Nearest Brokerage Office? But, “Unable to handle “extraordinary trading volumes.” WTF!!
