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I've seen this story (NASDAQ being hacked) reported in a couple of places, but it isn't clear to me what damage was done. It's not really possible for them to h

by minimax 13y ago

I've seen this story (NASDAQ being hacked) reported in a couple of places, but it isn't clear to me what damage was done. It's not really possible for them to have messed with the actual trading without anyone noticing. Everyone connecting to an exchange is reconciling the orders they send in against the trade confirmations they receive. You basically design your technology assuming the exchange is going to fuck something up eventually. I'd really like to hear more details about what was going on here.

mcphilip 13y ago
From the linked US DOJ press release: >It is not alleged that the NASDAQ hack affected its trading platform. http://www.justice.gov/opa/pr/2013/July/13-crm-842.html http://www.justice.gov/opa/pr/2013/July/13-crm-842.html
nonchalance 13y ago
The matching engine and the ring of servers around it are not accessible via internet. You can only connect to them if you have a server collocated in Carteret, and even then the NASDAQ machines only expose the ports relevant to order entry and feed data. They could have hacked a customer (say, citigroup) and entered that way, but all they really could do is incur losses for the customer.
- jbert 13y ago
  > but all they really could do is incur losses for the customer. If they could inject "incorrect" trades, could they put themselves on the other side of those trades via normal means and so benefit from such losses?
  - gohrt 13y ago
    Surely.
    - DannyBee 13y ago
      But how would this be noticeable from the regular fraud that occurs?
im3w1l 13y ago
You couldn't create or delete orders for other people without them noticing, but frontrunning could maybe stay under the radar.