Quote Stuffing Nearly Crashes the NASDAQ
Posted on August 10, 2011 at 17:49 PM EDT
What you need to know:Given today’s extraordinary market conditions, the UTP Securities Information Processor (SIP) processed more than 92.5 million quotations on the UTP Quotation Data FeedSM (UQDFSM) Channel 6 (NASDAQ-listed symbols S to Z) during normal market hours. As outlined in the UQDF data feed specifications, the UTP SIP has a message sequence number limitation of 99 million