http://online.wsj.com/article/SB10001424127887323455104579014951153139992.html
By Jacob Bunge
The Wall Street Journal
August 15, 2013
When prices on some U.S. stocks suddenly zoomed one day last month and
others unexpectedly plunged, stock-market officials set out to detect a
possible computer glitch or a trading algorithm run amok.
But after hastily comparing notes, exchange employees—who were
participating in a test of market defenses along with bank technicians,
regulators and law-enforcement officials—realized the price swings were
the work of hackers wielding rogue computer code generating a torrent of
erroneous buy and sell orders.
The July 18 drill, called "Quantum Dawn 2," didn't affect actual market
prices. Even so, it sent exchange officials into a flurry of action and
emergency planning.
The exercise underscored one of the greatest fears of exchange executives
and some policy makers: That a well-funded terrorist organization or a
rogue nation could pierce the financial system's defenses and mount an
attack that unleashes waves of trading losses, compromises sensitive
financial data or even forces the U.S. stock market to shut down.
[...]
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