[Infowarrior] - DJ computers suffer 11-min delay during Thurs selloff

[Richard Forno]

(the second MAJOR hiccup on the DJ computers this year, both happening
during massive selloffs....interesting this is the only MSM coverage I've
seen of this disturbing phenomenon.....makes you wonder how they can say
this is 'typical' and also underscores the need for humans on the
rapidly-digitizing trading floors!  ---rf)

Dow suffered 11 min. delay amid Thursday sell-off
Fri Jul 27, 2007 4:56PM EDT

http://www.reuters.com/article/marketsNews/idUKN2722050220070727?rpc=44

NEW YORK, July 27 (Reuters) - During Thursday's sharp stock sell-off, with
volume soaring to a record, the system that calculates the value of the Dow
Jones industrial average (.DJI: Quote, Profile, Research) suffered an 11
minute delay.

"We experienced a slight system latency between 2:57 and 3:08 p.m," Sybille
Reitz, a spokeswoman for Dow Jones Indexes, said on Friday. During that
time, the published values of the Dow differed by 17 to 25 points from the
prices of the 30 underlying securities, she said.

The delay happened on a day when the Dow industrials tumbled as much as 400
points, and trading volume for New York Stock Exchange-listed shares traded
in all markets hit an unofficial record, reaching 5.9 billion.

Giri Cherukuri, head trader at OakBrook Investments LLC in Lisle, Illinois,
said, "It happens now and then when you have very heavy volume like you did
yesterday, and it makes you stop sometimes to make sure you are getting
accurate information."

The lag was much shorter than the 70 minute delay seen on Feb. 27 --when a
computer malfunction contributed to an abrupt 200 point slide in the
blue-chip index.