Monday, February 7, 2011

Attempt to "web of insider trading" on the Nasdaq

There could be more symbolic date. Forty years almost to the day after its inception, February 8, 1971, the Nasdaq, American Stock Exchange that specializes in technology stocks, known for the sophistication of these systems, has acknowledged being the target of "cyber attacks" confirming information published in the Wall Street Journal on Saturday, February 5.

"During our routine checks we detected suspicious files on U.S. servers," said the operator, stating that an investigation was immediately opened by the court. The discovery of such misconduct goes back several months, but the judicial authorities had asked the Nasdaq to secrecy until 14 February.

The article in the American newspaper has changed this original plan. OPENING IN THE QUIET On Wall Street, the rumor that a stock had been the target of computer attacks repeatedly circulated in 2010. On Monday, the topic still monopolized the conversations of trading rooms. However, the panic has not seized the traders and the market opened quietly and smoothly.

In fact, the pirates have not attacked directly to the platform through which pass stock trade orders but at a parallel system, the Director Desk. A messaging tool that enables management of companies listed on Nasdaq to provide official documents or information relevant. The motive of the perpetrators, it remains unknown, seems clear: grab theft of confidential information on a proposed acquisition by example and take advantage before it is released.

In other words make a "insider". "ADVERSE EFFECT ON THE SHOCK TRUST" According to Nasdaq, hackers have failed to breach the system and would not be able to bypass any confidential information. True or false? "Maybe that Nasdaq is trying to avoid panic," said Gregori Volokhine, director at Meeschaert New York.

"If the pirates have not succeeded, this does not mean they will not try again and again," says Timothy Griskey, director of investment funds Solaris. Moreover, even if they have so far missed the fact that hackers had been able to disturb the Nasdaq "is detrimental to shock the market's confidence," he adds.

For experts, cyber-attacks have become almost inevitable. Today, stock markets operate via computer platforms rather than at auction. Amounts in transit - tens of billions of dollars each week - so that can not tempt little computer nerds who have already attacked several times in the Stock Exchange of CO2.

"The cyber attacks against companies and government are involved in ongoing and we remain vigilant," promises the Nasdaq. While within the NYSE Euronext, the operator (in particular) of NYSE and Paris, it is estimated that this announcement only reinforces the belief that reliability and safety systems must be "the" priority.

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