Black Monday Volume Strains Market Data Systems; Options Traders Hardest Hit By Vendor Reaction Times

THIS MONTH'S LEAD STORIES

Exchange and quote vendor market data systems bent but didn't break during the unprecedented transaction volume of Black Monday, October 19th, and subsequent days. The significant glitches that did arise were of the unanticipated variety -- the sort that can be expected but not predicted whenever large, complex systems are forced to operate on the brink of failure.

Panic-stricken users, of course, may not have appreciated the quality of market data they were seeing, especially since getting e

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