The three-hour outage on the Nasdaq last Thursday has us channeling Clint Eastwood as we look at the Good, the Bad and the Ugly of the outage. As a refresher, the Nasdaq exchange halted trading shortly past noon ET after it became aware of a problem disseminating price quotes.
With a few days to hone our 20/20 hindsight glasses, here is my take.
The Good (We use the term “good” pretty loosely.)
- The Nasdaq shutdown appeared to occur in an orderly manner and didn’t disrupt other parts of the stock market.
- Timing was “good” as it happened during the summer on a relatively quiet day and certainly didn’t have the same impact as the Flash Crash of 2010, which also happened on a Thursday.
- Technical issues were resolved in the first 30 minutes of the shutdown according to Nasdaq and the remaining time was used to coordinate with other key stakeholders (i.e. exchanges, regulators, etc) for an orderly re-opening 35 minutes before the market close.
Every once in a while, it’s important for us to talk about issues bigger than technology. At Eze Castle Integration, we make a conscious effort to stay philanthropic and keep the larger community in our minds and hearts.
As you know, we are global sponsors of Help for Children (formerly Hedge Funds Care) and regularly participate in their fundraising efforts both in the United States and abroad. Our Managing Director of Service, Vinod Paul, even sits on HFC’s Global Board of Directors and is involved in planning and organizing efforts to raise money for children affected by child abuse.
Categorized under: Trends We're Seeing
Network Operation Centers, commonly known as NOCs, are primarily used by large businesses, universities and the government in order to oversee complex networking environments. NOCs are often confused with data centers, which are significantly different. Click here for a refresher on data center tiers. A NOC is an operations base in a dedicated, secure location where a technical team is monitoring, managing and maintaining customers’ networks. Companies and organizations that require a high demand for security and monitoring will most likely have an internal NOC in place - or leverage that of an outsourced provider - in order to maximize efficiency.
In contrast to frequent news articles declaring that the end is near for the PC market, a new study by IDC reports that consumers still rely on PCs most of the time.
The Intel-sponsored InfoBrief surveyed nearly 4,000 U.S. adults about their computing trends and purchases and found that 97 percent of them use a PC as their primary computing device. Yet conflicting reports show that PC sales are declining at rapid rates, and tablets, in particular, are eating up the market share. Lenovo reported this week that their tablet and smartphone sales outnumbered PC sales in the first fiscal quarter – a quarter in which all of the top five PC vendors saw a decline in shipments.
Just like a car, a hedge fund’s network needs some tender loving care (i.e. maintenance) to keep it operating like a well-oiled machine. So, here is our healthy, happy network maintenance guide that our network experts use:
Step 1: Give those network devices some support
This includes TACACS configuration monitoring to ensure only authorized personnel have access to your network devices as well as staying on top of changes and incident resolution needs related to support for network devices including switches, routers, firewalls, WAN accelerators, VPN concentrators, and Wireless Access Points.
And don’t forgot to include some proactive network maintenance in addition to incident troubleshooting and configuration changes for all your network devices.
Every once and a while we like to deviate from our business technology and operations articles to look at a new technology that has applicability to consumers as well as businesses. Today we look at the newly released MixBit, which in all honesty, is more applicable to consumers at this point.
MixBit was created by the founders of YouTube and just released today for iOS. MixBit fills the void (if you can call it that) between Vine and Instagram Video. With Vine videos can only be 6-seconds and with Instagram they can be 15-seconds.
MixBit not only takes the bold step of increasing the size to 16-seconds but also makes blending multiple clips together easy.
Aside from the 1 second advantage, MixBit is unique in its ability to let users remix video clips with others they find on the site.
To see what MixBit can do, I created this 16 second “tour” of our Boston office. Nothing fancy, but certainly user-friendly.
As you know, we encourage our clients to regularly test their disaster recovery systems (at least twice a year!). But believe it or not, there is actually an even better preparation for a DR situation - a planned activation.
In recent years, Eze Castle has seen a large increase in requests for planned activations. Why? A few notable reasons include:
- Compliance purposes
- Investor due diligence requests
- A desire for more comprehensive scenario-testing
“But isn’t a planned activation the same thing as a DR test?”
Remember earlier this week when we said we’d be talking more about BCP communication? Well, you know we always keep our word!
A successful business recovery requires more than the ability to access critical systems and applications. It also requires effective communication. It is vital to communicate with your employees about the procedures of your business continuity plan before, during and after an incident. By doing so, you set the wheels in motion by creating the guidelines for the firm’s recovery.
Effective communication should include, but not be limited to:
1) Accounting for employees;
2) Setting workload expectations; and
3) Providing employees with recovery status updates.
Let’s take a deeper look into those strategies.
Successfully implementing your business continuity plan requires more than just ensuring your systems are operational and accessible. Success starts with your employees – those who maintain the expertise and knowledge to keep your business operational. Communicating appropriate BCP steps to your employees is essential in ensuring your business is not impacted by a disaster or disruption. But more about BCP communication on Thursday…
Following are three critical steps firms should take to find business continuity planning success:
1. Identify a specific evacuation site in the event of a disaster. Designate a safe location for employees to gather if your firm’s building is evacuated. Don’t forget to:
- Make sure the site is ALWAYS accessible. For example, don’t choose a restaurant as your evacuation site if they don’t open until 11 a.m. or are closed on Mondays.
- Communicate the evacuation site details to all employees, including those who work at client sites. Because not all employees will necessarily be in the office when a disaster occurs, anyone off-site or returning from a meeting should know where to report to.
You guessed it. It’s Security Week here on Hedge IT! Today, we’re diving into a topic that we’re passionate about – education and awareness.
We’ve told you about the types of threats that can harm a business, the steps you should take in the event of a security incident, and the policies you should create to keep your organization safe. But now it’s time to talk about training your employees to understand each of these.
A firm’s security strategy will only work if employees are properly trained on it. Therefore, the importance of providing information security awareness training cannot be understated. The goal of an awareness program is not merely to educate employees on potential security threats and what they can do to prevent them. A larger goal should be to change the culture of your organization to focus on the importance of security and get buy-in from end users to serve as an added layer of defense against security threats.
Once you have buy-in from employees, your focus can turn to ensuring they get the necessary information they need to secure your business.
- Five Years Later: How Bernie Madoff Has Transformed the Investment Industry
- The Who, What, When and Where of the Bad, Bad Cryptolocker Ransomware
- Expert Tips for Launching a Hedge Fund in a New Environment
- Answering the FCA's Dear CEO Letter on Outsourcing with Some Practical Steps
- Reflecting on What We're Thankful For This Thanksgiving
- business continuity planning
- cloud computing
- data loss prevention
- disaster recovery
- eze castle milestones
- hedge fund due diligence
- hedge fund marketing
- hedge fund operations
- hedge fund regulation
- help desk
- high frequency trading
- launching a hedge fund
- privacy compliance
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- startup & relocation
- trends we're seeing
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