Hackers Find New Way To Cheat On Wall Street

GMGruman writes "The high-speed trading exchanges that conduct the business of buying and selling stocks and mutual funds are so fast that hackers can introduce delays of a few microseconds completely unnoticed by today's network monitoring technology — and manipulate prices in the process to reap millions of dollars to the detriment of everyone else, InfoWorld's Bill Snyder reports. This kind of activity creates new reason to distrust Wall Street and shows how the computer networks we all rely on for conducting business and moving information are ripe for undetectable hacking."

Comments

Re:I doubt it

[History's Coming To]

You work in the business? Then tell everyone you know that the geeks not only think this way of working is a bad idea (see below), but that a small subset of them are going to take advantage to the point where your systems collapse. We're seeing the start of that already.

You've, collectively and as a worldwide organisation, agreed that data is worth a huge amount of money, which doesn't exist and may pop in and out of existence. You've created a metastable chaotic system governed by belief. You've put that system on the internet. You're funding it with everybody's bank accounts and pension funds. You're idiots, and so are those who allow it...the voters and the parties and the regulatory framework. The system is unstable, stop perturbing it.

And all of that is, of course, nonsense, because there's profit to be had.