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US Equities Markets, Rube Goldberg systems

Pricing Problem Suspends Nasdaq for Three Hours - "While regulators and market participants have taken several steps to strengthen their systems, the problems this week suggest that the flaws in the markets have not been repaired, and may actually be getting worse. “You have a very Rube Goldberg system,” said Gene Noser, co-founder of the brokerage firm Abel/Noser. “We’ve just put patches on it without attacking the basic problems.” The persistence of technical flaws — each seemingly coming from a different part of the system — has been blamed on the complexity of the trading technology and the fragmentation of the market itself. In contrast to the days when the New York Stock Exchange competed only with the Nasdaq, today there are 13 public exchanges competing in a fast-changing and low-margin business." (read more at link above)

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