The CME Group Inc (NASDAQ:CME) (Chicago Mercantile Exchange) is apparently down, according to reports breaking this afternoon. Business Insider reporter Julia La Roche revealed that the hard lines to the trading floor were down, and a Twitter user sourced by the media outlet said that the wireless on the floor has gone down as well.
Our option software provider just informed us it’s a power outage affecting CME’s network…still unable to connect to our server…What Value Investors Can Learn From Walter Schloss And Ben Graham Today
Walter Schloss isn’t a name many investors will have heard today. Schloss was one of the great value investors who trained under Benjamin Graham and specialized in finding cheap stocks. His track record was outstanding. In Warren Buffett’s 1984 essay, the Super Investors of Graham-and-Doddsville, he noted that between 1956 and 1984, Schloss’s firm returned Read More
— MSG Capital (@MSGCapital) October 25, 2013
One Tweet that referenced the outage on the CME Group Inc (NASDAQ:CME) said that their options software provider informed them that it was a power outage that was causing the problems on the trading floor. There is very little information available about the outage at this juncture. Business Insider cites an unnamed source for the information, and references several tweets about the outage.
When more information about the outage at the Chicago Mercantile Exchange becomes available we will update this piece with the relevant information.
CME Group outage
A power outage would probably be the best explanation for the company that runs the CME Group Inc (NASDAQ:CME), the CMX group. The biggest futures trading body in the world would be hard hit by news of a software problem like the one that hit the NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) just a few weeks ago. Exchange software problems have been building in the last couple of years.
It is only a matter of time before a regulatory body decides to perform a holistic study of the stability of the modern stock exchange. If today’s outage at the CME Group Inc (NASDAQ:CME) relates to a power outage rather than a software malfunction, it will be exempt from the narrative.